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Corporate investors are buying Australian tourist parks to create affordable housing, with Eureka Group's $11.7M purchase of Benalla Park adding 176 long-term units.
Corporate investors are increasingly buying regional Australian tourist parks to address housing shortages, with Eureka Group acquiring Benalla Tourist Park in Victoria for $11.7 million.
The 4.1-hectare site, with 145 revenue-generating spaces and approval to add 21 rental units, will expand to 176 long-term housing spots.
Eureka, which operates 52 villages across six states, cited strong rental demand—1.3% vacancy rate and 8.5% annual rent growth since 2016—as key drivers.
The purchase marks Eureka’s ninth acquisition in a year, with $100 million in potential deals pending.
The trend reflects a broader shift toward repurposing caravan parks into affordable housing for retirees, key workers, and skilled tradespeople amid ongoing regional housing shortages.
Los inversores corporativos están comprando parques turísticos australianos para crear viviendas asequibles, con la compra de Benalla Park por parte de Eureka Group por 11.7 millones de dólares, que añade 176 unidades a largo plazo.