Colliers Cairns is delighted to present for sale by Auction, 29-31 Spence Street, Cairns City - spanning 746m2 (approx.) of NLA on a 506m2 site and ideally positioned within a 500m radius of Cairns Central Shopping Centre, Cairns Cruise Liner Terminal, multiple University campuses and the beautiful Cairns Esplanade.
Offered to market for the first time in almost 2 decades, this substantial inner-city freehold building provides an opportunity for either owner occupiers to set up a new home for the future, or investors with a vision looking to attract a tenant with high foot traffic and excellent visibility.
The property is under a single title, split into 2 separate tenancies (upstairs & downstairs), comprising:
UPSTAIRS
Now offered with vacant possession, the 1st floor tenancy has been home to Destination Cairns Marketing for well over a decade and provides a total of 9 partitioned offices, storeroom, meeting room, kitchenette and bathroom facilities across 240m2 (approx.) of NLA. A substantial awning covering the footpath to the curb provides excellent signage opportunities, and comfort for clientele.
DOWNSTAIRS
The downstairs tenancy has been home to various restaurants and night club venues over time, but presents in need of new vision and energy to transform to fit a modern use case. The front half of the tenancy offers an open dining/entertaining area, with a commercial kitchen shell, store rooms, bathrooms and storage to the rear, with additional mezzanine level storage. This expansive, 506m2 (approx.) space is built to all boundaries, but has been vacant for the best part of a decade and would require extensive refurbishment/redevelopment.
Presented for sale as the long-term owners retire and relinquish the upstairs space, this is a rare opportunity to secure a part of the heart of Cairns' CBD.
29-31 Spence Street will be offered for sale by Auction on-site on Thursday 10 July at 11am, unless sold prior.
For more information or a copy of the Information Memorandum, contact John Lynch or Tom Quaid at Colliers Cairns.
*approximately
^outlines indicative only
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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