Invest in heart of Innisfail
ON the main thoroughfare of Innisfail is the opportunity to buy an investment that will stand the test of time.
Colliers International Cairns agent Charlie Torrisi said the high-profile building located in the Innisfail CBD came with “fantastic exposure”.
“The bustling centre of the
Cassowary Coast, Innisfail’s 150 Edith St, is positioned on the Bruce Highway with fantastic exposure to the traffic leading in and out of the town,” he said.
“On offer is a low-set masonry building with a mezzanine floor on a large 997 sqm block.
“With 23m frontage to Edith St and rear access from Dove St, the building has a net lettable area of 950 sqm over two tenancies. One tenancy has a national retailer with a lease term of five plus five years, with the other tenancy available for lease.”
That major retailer is Carpet Court and the site is close to several other big names such as Bunnings, Repco, Supercheap Auto, Kmart, Betta Electrical, Harvey Norman and BCF.
“Most of these major retailers have increased their retail floor space by up to 60 per cent over the past five years,” said Mr Torrisi.
“This increase reflects the confidence these iconic brands have in the continued growth and prosperity of Innisfail and the Cassowary Coast region.”
Just down the road, another high-profile commercial property 64 Edith St is also on the market for $1.85 million.
On the corner of Owen St, the block is home to Innisfail’s Commonwealth Bank branch and Kennedy MP Bob Katter’s offices.
The tenants in the threelevel office complex have recently renewed their leases until 2024.
Current rental income from the two long-term tenants totals $15,621.41 plus GST per month, or $187,456.92 plus GST per annum.
Additional opportunities exist for tenancies on the first floor with four offices currently vacant.
The four offices on the first floor offer leasable areas of 13.1 sqm, 9.6 sqm, 9.6 sqm and 12.7 sqm.
The basement level consists of carparking for tenants and is accessible via a laneway off Owen St.