Appetite for quality stock
A WESTCOURT property is expected to attract competitive investor interest when it goes under the hammer at Burgess Rawson’s June Portfolio Auction today, the first since COVID restrictions eased.
The prominent 3188 sq m corner site at 274 Mulgrave Rd is tenanted by Hungry Jack’s on a renewed 10-year lease until March 2030 and offers a net income of $248,432 pa + GST plus 4 per cent fixed annual increases.
A blue chip commercial property, the tenant is also an A-grade ASX-listed tenant, giving potential buyers complete peace of mind around their security.
The site adjoins Cairns DFO, which has 74 tenancies and more than 1200 car spaces.
Meanwhile, today’s Burgess
Rawson auction will also include a Proserpine property tenanted by ASX-listed Veris Limited, an established surveying company with more than 50 years’ history in the region.
Burgess Rawson selling agent Glenn Conridge said the north Queensland commercial property market was consistently strong, which turns investor heads as a reliable go-to amid recent market uncertainties.
“With a gross regional product estimated at $9.60 billion and a huge international tourism market garnering in excess of five million visitors annually, Cairns’ commercial assets are always hotly contested,” Mr Conridge said.
“We have not only seen investors regain a strong appetite for quality commercial assets post COVID-19, but above-average interest between May and June, so we anticipate
Enjoy full digital access the June portfolio auction, which really does have something for everyone, to attract significant interest,” Mr Conridge said.
“Blue chip assets in the fastfood sector have proven their resilience through this pandemic period as reliable and secure investments, making this Hungry Jack’s a fantastic buy for the more established investor.
“On the other hand, the 7 day paper delivery*
Proserpine asset is an ideal option for investors eager to kick off their commercial property investment portfolio while maintaining assurance around the asset’s long-term stability.”
Both properties will be auctioned from 10.30am today.
For further information about the properties or current listings, Glenn Conridge can be contacted on 0413 873 337 or via email at gconridge@burgessrawsonqld.com