For investors seeking a reliable investment with a stable government tenant, 46 Redden Street offers a prime opportunity. This substantial 8,066m2* freehold site is a rare find. The expansive site allows for the building area to be doubled based on current town planning guidelines.
Colliers Cairns are pleased to offer for sale this industrial workshop/office complex, located at 46 Redden Street, Portsmith QLD 4870. The property is being offered for sale by Expressions of Interest closing Thursday 20 February at 4pm.
Situated in Portsmith, the region's primary industrial suburb, the property is conveniently close to the City, Port, and Rail.
The property includes 8,066m2* of freehold land, featuring two interconnecting high-clearance workshops with a combined building area of 1,501m2* located towards the front of the allotment. These workshops are equipped with three 5-tonne gantry cranes and built-in accommodation that includes offices, tool rooms and change room facilities. Additionally, there is a 395m2* two-storey office building attached to the workshops.
The site is currently leased to the Department of Energy and Public Works, only one year into a 5-year lease, and with 2 five-year options, making this the perfect opportunity for an investor to benefit from the government tenant and the remaining lease term.
When assessing the value of this investment, it is important to know why the government leased the property. It is an integral part of their push to satisfy the affordable housing sector. The factory is building affordable and transportable housing and is part of the $1.8B Queensland Housing Strategy, which incorporates training apprentices in a practical situation. This builds confidence into the term being renewed.
Features:
- 8,066m2* freehold site
- Solid Investment leased to government tenant with 4-years remaining on initial lease term.
- 2x high clearance interconnecting workshops with a combined GLA of 1,501m2*
- Workshops include office rooms, tool storage and change room facilities
- Three 5-tonne travelling gantry cranes
- 2x 14m* wide opening at the rear of the workshops
- High clearance & 8m* wide powered roller door at the front of the workshop
- Attached 395m2* two-storey office building
- Proximity to Cairns CBD, Sea Port, Rail and main thoroughfares
- On-site and on-street parking available
46 Redden Street is being offered for sale by Expressions of Interest closing Thursday 20 February at 4pm.
Inspection by appointment only.
For more information, contact the agents.
*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.