Retail For Sale
Expressions of Interest. EOI Date 5 Dec 2018 Tenanted Investment
Land Area: 1,100.00 m2. Floor Areas: 900.00 m2 to 1,100.00 m2.
Colliers International (Cairns) is excited to offer for sale the landmark Katies Centre, one of the few remaining single level multi trader retail buildings in the famed Golden Block of Cairns CBD.
Located on the highly trafficked corner of Abbott and Shields Streets linking the Lagoon and Cairns Esplanade, with the City Mall, Eat-Street dining precinct and Cairns Central shopping centre, this icon of the Cairns CBD retail landscape is offered for sale for the first time in over 30 years.
Positioned on an 1100sqm freehold parcel, the building which is constructed to three of the four boundaries is divided into 9 tenancies ranging in size from 45sqm to 219sqm providing a gross building area of approximately 1010sqm.
Falling within the “Principal Centre” zoned planning area, the code provides a wide range of “code assessable” high-rise development options including retail, office, accommodation or a combination of each.
For redevelopment, The Katies Centre is being sold at an opportune time with several month-to-month and maturing lease terms converging to ensure flexibility to the incoming purchase. While over 80% occupied and generating immediate and substantial cashflow, it is envisioned that there is a higher income potential through refurbishment and repositioning of the centre or potentially through a full redevelopment including multi-level or highrise.
Considered a landmark opportunity, the subject property offers astute and capable buyers the rare opportunity to secure an unrivalled location with substantial passing income plus significant upside through refurbishment or redevelopment.
• Freehold title area of 1100sqm
• Strategic corner on main thoroughfare
• Refurbishment or redevelopment opportunity
• Substantial passing income from existing tenancies
• Flexibility in current lease terms
For further detail and a copy of the Information Memorandum, please contact Stacey Quaid on 0418 773 258 or Jay Beattie on 0428 551 062.
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.
- Freehold title area of 1100sqm
- Strategic corner on main thoroughfare
- Refurbishment or redevelopment opportunity
11 Jan 2019
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