2/99 Esplanade Cairns City, QLD 4870

This exceptional commercial allotment is situated in a prime position on the bustling Cairns Esplanade, a highly sought-after location renowned for its vibrant dining and retail scene. The property is currently tenanted by national franchise "Hello Harry's," enhancing the attractiveness of what is already an astute investment.

Upside:

• High yielding investment opportunity secured by national tenant
• Tightly held esplanade dining precinct
• $28 million refurbishment of Cairns Esplanade
• 2 carparks on title

Key investment details:

• Price guide: $1.7 million-$1.8 million
• New annual rent: $130,000 plus GST and all outgoings
• Annual rent increases: 4%
• Lease term: 7 years, with two further 5-year options (7 + 5 + 5), potentially extending to 2043
• Estimated outgoings: $49,100 per annum (Payable by the tenant)
• The existing lease will be surrendered on 31 August
• The new lease will commence on 1 September
• Outgoings payments by the tenant will commence paying outgoings in November, following adjustments related to discounts under the previous lease

Astute investors have the opportunity to acquire a strategic asset that not only provides a steady income stream with uplift potential but also offers the added benefit of being a significant holding in a prominent location within the Cairns real estate market.

Information Memorandum available soon upon request.