Offers are invited for the sale of the unique investment opportunity located at 22 Spence Street, Cairns City.
22 Spence Street represents a unique opportunity to acquire a fully tenanted investment property located in the heart of the Cairns CBD. This prestigious property, with its significant historical value and architectural charm, stands a prominent landmark in the bustling city centre. Located just two blocks from the Esplanade dining precinct and with its dual street frontage onto Spence and Lake Streets, the property is one of the few trophy buildings in the CBD.
The property offers a rare holding comprising 1,914m2* NLA spanning across two levels. The fully leased investment offers significant upside with a mix of high calibre retail, hospitality and beauty tenancies, providing a net income of $610,274* per annum. Located just one block from the cruise ship terminal, the ground floor tenancies capitalise on their positioning with heavy foot traffic from local and tourist traffic while the second level hospitality-based tenancies offer extensive balcony views over the bustling CBD.
Key features of the property include:
-Strong yield with existing long-term tenants in place
-100% occupancy with a 4.64 WALE based on income
-Encompassing 1,914m2* of NLA configured into 11 tenancies over two levels
-Future upside development potential - STCA
-Dominant corner positioning with exposure to main CBD thoroughfares
-Located within walking distance to key transport, retail and tourism-based amenities
Cairns is a thriving economic hub, attracting both tourists and locals, making it an ideal location for commercial investments.
Please contact the exclusive agents for more information.
*approx.
All information contained herein is gathered from sources we believe to be reliable. However, we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
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