Eureka Communities has been added to the All Ordinaries Index which is a basket on the 500 largest businesses listed on the Australian Stock Exchange.
They have grown out of trhe skeleton of the old Village Life and SunnyCove rental villages pre the GFC. They had not made a profit for about 10 years until 2014. Now on a growth path by acquisition, they have acquired 18 villages in the past 20 months and claim to have another eight to ten in their sights over the next 12 months.
Their Net Profit before AND after tax for the six months to December was $3.652M because they have so much in accumulated losses they will not be paying tax for a very long time.
The growth in their share price from 32 cents 12 months ago to 65 cents today makes Eureka the best performing retirement living and aged care share on the stock exchange.
New crowdfunding property platform used to kick start village development
The first $1.5M has been raised on DomaCom to fund a village development in Victoria.
Domacom is a fractional property investment platform that allows individuals to get involved in property syndication investment by crowdfunding, plus it allows secondary trading of the investment. The crowdfunding allows people to make pledges to contribute (invest) in a project but only if it gets the required minimum capital.
The first village to be funded is the well-known proposed gay and lesbian village at Ballan in Central Victoria, known as Linton Estate. The next two book builds fro it will be $10M and $12M.
DomaCom is following the US and UK where property crowdfunding has taken off - in the US over $1.4 billion has been crowdfunded (check LendInvest) and in Europe more than $1 billion.
