Commercial
111-115 Grafton Street, Cairns City, QLD, 4870
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SOLD

Overview

  • Property ID:
    21574
  • For Sale:
    All offers Considered
  • Area:
    5136 m2 (*approx)
  • Type:
    Commercial, Office / Retail
  • Development Potential:
    Commercial development Opportunity (STCA)

Property Details

CAIRNS CBD OFFICE BUILDING REFURBISHMENT/POSSIBLE STRATA OR RESIDENTIAL CONVERSION PROJECT

  • MUST SELL SITUATION
  • ALL OFFERS CONSIDERED
  • POTENTIAL NET FUTRE INCOME OF $1.4M*

THE OFFERING

A prominent 5 level commercial office building with some ground floor retail having a total NLA of 5136m2 plus 54 undercover car parks. Perfectly positioned in the Cairns CBD this long-established property currently has the two largest floor plates for office space in Cairns available for lease.

The building is looking for a new owner to refurbish and take this prime location to the next level.

PROPERTY HIGHLIGHTS

  • Land area: 2,037m2*
  • The frontage to Grafton Street is approximately 40 metres
  • Zoning: Principal Centre Zone
  • Multiple development options available:
  • Major refurbishment and re-lease
  • Strata title and sell down
  • Possible conversion to residential uses
  • Currently 45% leased
  • Holding income of $670,000*
  • Potential net future income of $1.4m*

THE LOCATION

This is a central business district location supporting a mixture of retail buildings and accommodation providers within high density residential complexes. The Cairns Esplanade is 450 metres to the east and this area is heavily developed with retail, restaurants and accommodation catering to the tourist market.

* approx.

Remember to mention you found this property on DevelopmentReady.com.au

Agency information

Danny Betros
Property Map
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