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  • For sale
Long Term Tenanted Investment - #1
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For Sale

For Sale by Formal Offer
Colliers Cairns offers for sale this commercial freehold strata investment property located within the Woree Business Centre in suburban Cairns City. The subject property is offered for immediate sale by formal offer.

Offered with an existing long-term supermarket tenancy, the subject property presents an opportunity for investors to secure a proven tenant in a substantial building, located within an established suburban location.

The IGA supermarket business has been successfully operating out of the same building for 29 plus years and shares its location with Liqourland, QML Pathology, Southcare Medical and Woree Business Plaza. The current lease which commenced in July 2021 provides rental security for five years with an additional five, 5-year options.

Current income is set at a gross rental of $240,000 per annum + GST with fixed increases of 2.5% annually and review to market provisions on the exercise of the options.

Features:

-Long term IGA supermarket tenant
-Part of a well-located suburban centre with ample convenience parking
-Recently commenced 5-year lease with options
-Passing gross income of $240,000pa with fixed 2.5% annual increase
-High traffic, proven location
-Sizeable 899m2* ground floor tenancy area
-Recent upgrading of flooring and merchandise shelving
-Exclusive use loading dock area

This is an opportunity to acquire a tenanted commercial investment located within a busy suburban centre by Formal Offer.

For more information, contact Stacey Quaid.

*approximately

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.
Colliers - 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 is Australia's own global real estate success story.


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