Tenanted Investment Property with Great Future Development Prospects
Colliers International (Cairns) Pty Ltd is pleased to present this tenanted residential unit complex, located in the highly populated and a key suburban growth area of Earlville, for Sale by Expression of Interest.
Developed and meticulously maintained by the Cairns Legacy Club, the property has provided subsidised accommodation for war widows for some 20+ years. Motivated to enable the Club to provide a wider variety of support to those in need within this region, the Board has made the decision to sell the facility while retaining a head lease over the property for the next 2 years.
The complex comprises of 18 fully self-contained single level residential units. The entire complex and grounds are maintained to a very high standard, with the individual units benefitting from regular refurbishments over their life to maintain a high level of amenity for its occupants.
The combined sites provide for a rectangular 2,496sqm* medium density zoned footprint with 35-metre frontages to both Rowe and Barr Streets.; and represents a substantial future multistorey redevelopment opportunity in a highly sort after city fringe location.
The subject property offers astute and capable buyers the unique and rare opportunity to secure a fully tenanted residential complex providing immediate income security, while doubling as a significant development footprint in a strategic and desirable location at a critically key junction in the growth of the greater Cairns property market.
- 18 fully self contained units
- Head lease to Legacy Cairns (2yrs)
- 2,496sqm* over two titles
- Key suburban growth area
- Significant future development opportunity
25-27 Rowe Street & 16-18 Barr Street Earlville is for Sale by Expression of Interest closing 4pm on Thursday 26 April at 4pm. For further information, please contact Jay Beattie on 0428 551 062.
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