Ready-made opportunity
A PROMINENT Cairns couple’s retirement plans are behind the closure of a popular homewares store.
Mulgrave Rd’s Loot Homewares and Furniture, owned by former Cairns Chamber of Commerce president Sam Marino and his wife Linda, closed in June and is now on the market for sale or lease.
The couple are also owners of neighbouring Beacon Lighting.
While Mr Marino preferred the 327 Mulgrave Rd site was leased, if a buyer was keen, he would consider investing in another commercial site in the city.
The couple moved the Loot store from Showgrounds Shopping Centre to the Mulgrave Rd site five years ago and noticed an increase in business.
“Loot had been there for six years. My wife was getting tired and so we decided the best course of action was to have a closing down sale,” Mr Marino said.
“Mulgrave Rd has a lot of traffic movements. To pay for that advertising would cost you $60,000 or $70,000.
“Beacon Lighting we’re trading reasonably well and it’s because of the location.
“It is a really good retail site but because of that exposure it also lends itself to being a gym or a medical centre for that matter.
“It’s central and there is heaps of carparking out the back.
“There is work underway to reconfigure the number of car parks out the front too.”
Mr Marino said there had been some inquiry but that the Cairns business sector had been quiet.
He still had faith in Cairns and the economic resurgence which has been forecast.
CBRE agent Danny Betros is managing the sale or lease of the property and said its proximity to Repco, DFO, Petbarn, the Good Guys and other big retailers was part of the appeal.
On 1399 sqm, the building area measures 750 sqm and features concrete masonry walls, a frameless glass shopfront, automatic doors, a glass and metal sliding rear door to the loading area, suspended ceiling, recessed lights and seven spilt system airconditioning units.
The airconditioned showroom is 600 sqm and the rear warehouse is 150 sqm.
There is also access via Svendsen St at the rear of the premises for delivery and pickups, rear toilets and offices.
The rear of the property is fenced securely and there is a rear store shed of 28 sqm.