This firm focused on BTR for budget retirees - and it paid off

Nick LenaghanProperty editor

Aug 29, 2023 – 5.59pm

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Already a subscriber?

Retirement village operator Eureka Group’s focus on the affordable end of the market, with a portfolio heavily weighted to Queensland, is paying off for its investors, with a 22 per cent lift in revenue to $36.4 million for the 2023 financial year.

While a relative minnow among the listed property trusts, Eureka’s budget build-to-rent business distinguished itself with a healthy 33 per cent increase in its portfolio valuation to $229 million, a contrast to the asset write-downs experienced by many of its larger peers.

Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts.