Esplanade Retail Unit with two tenancies and offering the security of good net returns of approx. 7.0% net at the listed price The leases have recently been extended so a new owner gets the benefit. The property also has two carparks attached to it.
Cairns has just seen the opening of two new top-class hotels by the Crystalbrook Group and there is another Esplanade hotel owned by this group soon to open. These will be a short walk to the property - which is expected to increase trade and make the location of this property even more desirable.
It is also across the road from the Cairns' Esplanade Boardwalk and Lagoon - always popular with tourists and locals alike.
Properties along Cairns' Esplanade are always extremely hard to obtain as they are undoubtedly the jewels in Cairns' crown.
The available property has had the same owners for over 18 years, and this is similar to most of the properties along this strip.
Now is the time to act to secure a rare investment property in a prime location with quality tenants.
For more details, please email agent