Tenancy with solid future

A CAIRNS dining favourite could close its doors as the owner behind the business makes the decision to retire.

Spence St’s Kee Kong Chinese Restaurant has been a favourite of locals for almost 40 years, making it one of the oldest restaurants in Cairns – and one of the most popular.

However, Vincent Wong’s imminent retirement has led to the planned sale of its ground floor tenancy.

Colliers International’s Stacey Quaid said the property could be sold with or without the fitout in place.

“The restaurant occupies one of just four strata tenancies in the building, which, if combined, could allow for future development of the 1015sq m site,” he said.

“This is a unique chance to purchase one of the very few ground level strata tenancies in the Cairns CBD.

“The site could allow business operators to own their own premise while having the security of being part of a larger future development parcel,” he said.

“Located close to the high traffic corner of Sheridan and Spence streets, the property was well placed in the city’s legal precinct and near Cairns

Central Shopping Centre, receiving plenty of foot traffic,” Mr Quaid said.

Currently operated as a licensed Chinese restaurant, the strata could be converted to offices or retail or retained as a food venue to suit the incoming buyer.

The tenancy area comprises 164sq m with four parking spaces attached to the tenancy.

“We see the property for its greater potential, either for refurbishment or conversion now, plus its longer-term potential for a high-rise development on the site,” Mr Quaid said.

“With its prominent street frontage, the property will have appeal to both owner occupiers and investors.”

Kee Kong Chinese Restaurant is a favourite with workers in the CBD for its quick, easy and affordable lunch specials.

The restaurant also hosts meetings for many Cairns community groups, who gather to connect and share a meal.

The restaurants will be closed this week from today until Sunday, reopening again for lunch service on Monday.

The property at 59 Spence St is offered for sale by expression of interest closing 4pm on March 19.

Picture: BRENDAN RADKE CHINESE TAKEAWAY: Colliers International principal Stacey Quaid is selling the Spence St building which houses the Kee Kong restaurant run by Victor Wong and his family.