Gold Coast-based rental village operated Eureka has purchased 36 units for $2.05 million ($57K each) in Couran Cove Island Resort on Stradbroke Island, 10 minutes by ferry ride from the Coast adjacent to Brisbane. This takes them past 2,000 rental units and overtakes Ingenia (with 1,600 units) as the largest rental village operator.
The 352 unit resort was under the Ramada brand until last December when they withdrew from management. It is owned by Gold Coast investor Glenn Molloy who is a major shareholder in mining equipment company PPK, which Eureka Chairman Robin Levison also chairs.
Eureka states it plans to acquire a further 65 to 90 units plus manage another 50 on behalf of owners. This will take them to a possible 176 rental village units co-existing with the resort.
