Four Income Streams – Leahy Building – Cairns City Centre

Positioned on a 472m2 block with Principal Centre Zoning in place, 82-84a Sheridan Street provides the flexibility and return that any professional investor desires.
Three leases are currently in place and a 35m2 office space currently vacant, if leased, would total four income streams.
The property is outside the “Flood and Inundation Hazards Overlay” in the city centre and has the following current leases;
1) Korean Restaurant – with a total lease area of 328m2 the tenant is currently paying $1,800 per month (GST inc). 5 year registered lease from 23rd March 2021 with option of 5 years.
2) Specialty Food Shop – with a total lease area of 68m2 currently paying $2,860 per month (GST inc). Currently Periodic Lease.
3) Periodic Lease – short term accommodation, 4 bedroom, 1 bathroom upstairs. Two rooms currently rented and returning $320 per week.
4) Office Space – fronting Sheridan Street is 35m2 is currently vacant. Sellers have expectations of a minimum rental of $350 per week.

For further information or to arrange an inspection, contact agent today