SOUTHERN COMFORT
A COMMERCIAL property in Cairns’ growth corridor south of the city has just been sold for $3 million. The property at 1 Ravizza Drive, Edmonton has been sold to a southern investor.
A COMMERCIAL property in Cairns’ growth corridor south of the city has just been sold for $3 million.
Knight Frank Cairns agent Rob Macfarlane said the 1 Ravizza Dr, Edmonton, property was sold as a “solid investment to a southern investor”.
“The freestanding commercial property at the corner of Ravizza Dr and Mill Rd is leased to the Queensland Government and is a purpose-built facility with a total land area of 1514 sqm and a lettable area of 700 sqm with secure basement parking for 15 vehicles,” Mr Macfarlane said.
“The facility was originally constructed in 2006 to state government specifications and is well-positioned on a corner site in the commercial hub of Edmonton which is fast becoming the southern growth corridor of Cairns.
“The property appealed to the Sydney investor because of the quality of the tenant and the higher yield on offer in Cairns as opposed to down south,” Mr Macfarlane said.
“I am experiencing a great deal of interest from southern buyers for commercial property in Cairns at the moment as they see great value and returns as well as potential for a strengthening market.”
Close to the property is the Piccone’s shopping complex, medical facilities and major transport infrastructure which includes the Bruce Highway, located only one minute away.
The facility also has easy access to public transport directly out the front of the property and is on one level. There are also seven carparks provided on the ground level.
Close to the residential hubs of Mt Sheridan and Gordonvale, Edmonton also represents an easy commute from these suburbs. For commercial investments contact Mr Macfarlane of Knight Frank Cairns on mobile 0409 636 943 or 4046 5330.