Centre of attention
CBD building is in prime position to take advantage of tourism bounce
THE sale of a Cairns City diamond in the rough presents a wealth of opportunity for the right investor.
Situated at 13A Spence St in the heart of the Cairns CBD the freestanding two storey building offers ground floor shop frontage and offices on the first floor.
Benefiting from its inner city location, the property is located close to the shopping strips and the business centre of the CBD and is surrounded by prestigious law firms, cafes, boutique retailers and is a stone’s throw from the dining precinct of the Esplanade.
Colliers marketing agent Stacey Quaid said the prime positioned building was offered for sale with vacant possession.
“With a substantial street presence and expansive signage, this is an opportunity for an investor owner/occupier to maximise the potential of the property,” he said.
“Opportunities for affordable freestanding commercial properties in the heart of the CBD are not available very often.
“And with the borders now open, and the rebound of the tourism sector, this property provides a solid platform for market interest.”
Mr Quaid said as CBD businesses repositioned following the easing of the pandemic a revitalising of the city centre was just around the corner.
“I think in 12 months time that building will be developed,” he said.
“We have seen the commercial markets go through a transition with Covid for buildings like that, there really is an opportunity as we start to move back into high end retail.
“Someone could go in there or convert the whole building to a single use, it has good natural light and amenities on the first floor.
“The key with this building is location, you are right on Bank Lane, on the edge of the golden block, close to the casino and high-end retail.
“I think it’s got good bones. It’s a great owner-occupier.”
The property is for sale through an expressions of interest process that closes on May 26 at 4pm. Contact Stacey Quaid on 0418 773 258.