207 Sheridan Street Cairns North QLD 4870

Positioned on a generous 1,012m² freehold allotment at the junction of Sheridan Street and the Captain Cook Highway, Castaway's Backpackers delivers unparalleled vehicle exposure and premium signage potential.

This fully approved, turnkey hostel is offered on a "WIWO" (walk in, walk out) basis and comes complete with all current accreditations-making it a hassle-free acquisition with strong cash flow upside.

Key features include:
- 34 rooms in total (including dedicated manager's suites)
- Expansive communal spaces featuring multiple entertaining areas, dining and media rooms, plus a large pool
- Amenities and kitchens servicing both levels, ensuring guest convenience throughout
- Coin-operated laundry system, minimising management overheads while enhancing guest service and income
- A brand-new 40kW solar system, dramatically reducing operating costs and enhancing sustainability

Located in close proximity to the soon-to-open University Hospital, Cairns Base Hospital, and Cairns State High School-this property is well-positioned to meet future demand for affordable accommodation and student housing.

With vacancy rates at an all-time low and robust market fundamentals driving demand for budget-friendly stays, this asset represents a "safe as houses" investment. It offers reliable commercial cash flow today and significant upside for future development-whether expanding the existing hostel, converting to purpose-built student housing, or pursuing broader mixed-use redevelopment.

Don't miss this rare opportunity to secure a high-exposure, income-generating asset on the doorstep of the Cairns CBD-perfectly positioned for long-term capital growth.

Contact David Murphy today to receive a full Information Memorandum.