Healthy interest in auction
A PERFECTLY-positioned medical investment is set to go to auction this month.
The full-floor, 950 sqm modern medical accommodation at 58-62 McLeod St will be one of several properties for sale at Burgess Rawson’s upcoming portfolio auction.
Burgess Rawson Queensland principal Pat Kelly said the prominent corner site and an impressive net income of $541,600 per annum plus GST meant the site had already received significant interest.
“With a highly appealing CBD location within Cairns Central Plaza opposite North Queensland’s largest shopping centre, Cairns Central Shopping Centre, this site is a real commercial property gem,” Mr Kelly said.
“Cairns has really cemented itself as the tourist mecca of Tropical North Queensland and is also pinned for major residential growth in the next 20 years.
“It is factors like these that have seen the region continue to interest commercial property investors.”
The site is tenanted by a day-surgery hospital and fertility clinic on a secure 10-year lease to 2025, with options extending to 2035.
Further, there is strong possibility of long tenure given the tenant’s extensive investment in fit-out and specialist equipment.
According to Mr Kelly, medical assets are very much in demand nationally and do not appear on the market often.
The auction will be held on September 11 at Sydney’s Doltone House.