CBD property opportunity

A well-known building in the heart of Cairns CBD is on the market, providing an opportunity for an investor or occupier to build their commercial portfolio.

The freestanding commercial building at 21-23 Grafton St has been home for radio stations Star 102.7 and Radio 4CA since 2021.

Both tenants occupy level 1 of the building, leaving space for incoming tenants or owner/ occupiers.

Colliers International Cairns managing director Stacey Quaid said the property would be ideal for an investor looking to build their portfolio or an owner/occupier wanting to capitalise on the planned infrastructure in Cairns City.

“I think the part people will gravitate to is the fact the building offers 25 undercover car spaces and there is an elevator inside,” Mr Quaid said.

“There is not a lot of quality commercial buildings in the CBD so this is a brilliant opportunity,” he said.

The property sits next to the planned $50m CQ (Central Queensland) University campus on Grafton St.

The planned infrastructure has been projected to accommodate more than 4500 students by 2030.

Mr Quaid said that its location made the property “really exciting”. “The Convention Centre is right across the road,” he said.

“The two-level offering comprises a substantial 1018sq m freehold with a net lettable area of approximately 966sq m.”

The (part of the) property for sale has been vacant for four years, with previous tenants, ANZ Bank, moving to Abbott St.

Expressions of interest for the property are closing June 8 at 4pm through Colliers.