24 - 28 Lily Street, CAIRNS NORTH QLD 4870
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- 16 Dec 2016
MIXED USE INVESTMENT WITH DEVELOPMENT UPSIDE
Colliers International (Cairns) is pleased to offer for sale three tenanted properties located on Lily Street, Cairns North, which is on the fringe of the Cairns CBD. The properties are ideally positioned within easy walking distance of the Cairns North Sporting Precinct which houses the Tobruk Memorial Pool, the Cairns International Tennis Centre and the Cairns Hockey Association fields, as well as to the hospitals and the CBD. The properties are also only 7mins* drive from the Cairns International Airport.
Consisting of three adjoining properties providing a total land area of 1490sqm*, with substantial improvements incorporating 2 two-storey houses as well as a lowset home with existing income and with a current development approval in place allowing for development of medical, finance or office space within the sought-after commercial fringe. This approval is valid through to November 2019.
24 Lily Street comprises a two-level very well presented residential Queenslander-style building with a land area of 512m2*. The main construction of the structure is timber, with weather board cladding and corrugated iron roof. The property is currently divided into two separate units, ground and first floor both tenanted on short term leases at $400/pw and $300/pw.
26 Lily Street is a 512m2* property and is improved with a low set timber framed dwelling with weatherboard cladding and corrugated iron roof, consisting of three bedrooms and one bathroom. The dwelling is tenanted on a periodic basis at $320/pw.
28 Lily Street is improved with a double storey timber framed weatherboard Queenslander with a corrugated iron roof on a land area of 466m2*. The style is typical of the era and generally services well for renovation into commercial use. The property is currently tenanted on a periodic basis at $400/pw.
The subject properties represent a unique opportunity to secure a multi-tenanted income producing investment, encompassing a strategic landholding in a key location providing further upside through a variety of development opportunities (subject to council approval).
24, 26 & 28 Lily Street, Cairns North are offered for Sale by Private Treaty.
While interest will be considered on the individual properties independently of each other, the sale process is designed to facilitate the sale of the three adjoining properties in one line.
All property inspections are to be conducted in the company of the marketing agent, with prior notice to the tenants.
For further information, please contact Stacey Quaid or Charlie Torrisi.
Colliers International - a leader in global real estate services, defined by our spirit of enterprise. Through a culture of service excellence and collaboration, we integrate the resources of real estate specialists worldwide to accelerate the success of our partners. We represent property investors, developers and occupiers in local and global markets. Our expertise spans all property sectors – office, industrial, retail, residential, rural & agribusiness, healthcare & retirement living, hotels & leisure. Colliers International is Australia’s own global real estate success story.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
24 - 28 Lily Street CAIRNS NORTH