4 Pembroke St, 50-52 Gatton St, 92 Martyn St Parramatta Park QLD 4870

MiHaven Living, Cairns, Queensland

Savills are pleased to exclusively present an opportunity to acquire a 100% interest in the MiHaven Living Property Portfolio, three fully leased inner-city premium shared accommodation assets in Cairns.

- Modern 131-bed ensuite accommodation portfolio, providing immediate scale, and below replacement cost.
- Recently developed properties, opening in 2018 and 2019 by MiHaven Living.
- Strong operational performance with forecast CY2024 Gross Income of $2.03 million. Offered with or without an operator in place.
- All rooms are fully furnished, with air-conditioning, complemented by spacious indoor tv lounge, dining and outdoor communal areas, including a BBQ area.
- Ability to operate as student accommodation, coliving, corporate stays or as short-term rental units.
- Secure modern properties, with CCTV throughout and swipe card access to buildings and rooms.
- Laundry facilities, car parking and bike racks add to tenant experience.
- Central CBD location providing access to world class amenities, public transport, and all within a short walking distance to CQ University, James Cook University, business colleges and language schools.
- Exceptional rental growth potential with Cairns vacancy at 0.6%, limited new housing supply, and apartment rents tracking at 18% YoY.
- Cairns is the #1 Study Tourism destination in Queensland with universities ranked in the top 2% globally.
- 32,000 international students visit the region per annum, 2,000 additional student accommodation beds required to match demand.