Colliers Cairns offers for sale this retail investment property located within the Woree Business Centre in suburban Cairns City. The property is offered for immediate sale at the listed price of $3M.
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 till 2031 with an additional four, 5-year options.
Current income is set at a gross rental of $246,000 per annum + GST with fixed increases of 2.5% annually and review to market provisions.
Features:
-Long term IGA supermarket tenant
-Part of a well-located suburban centre with ample convenient parking
-Recently commenced 10-year lease with options
-Passing gross income of $246,000pa + GST 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. For sale at the listed price of $3M.
For more information, contact the agent.
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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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