Dual Industrial Facilities Near Cairns Sold for $1.55 Million
Two large, professionally-designed industrial buildings in Stratford, north of Cairns, have been sold by Ray White Commercial for $1,550,000.
The properties at 15-17 Johnston Street, Stratford, were sold to an overseas aviation company by Scott Green and Helen Crossley of Ray White Commercial Cairns on behalf of a private owner for a yield of 8.5 per cent.
Scott Green said the buyer would operate from a portion of the space and lease the rest of the facility.
“The land area of the two lots is approximately 2,024 sqm and includes a net lettable building area of approximately 1,230 sqm and 16 car parks,” he said.
“Building 1 is approximately 630 sqm including a 100 sqm mezzanine and is currently tenated by Staging Connections and Zuel Ventures while Building 2 is approximately 565 sqm, leased to GJ Masters and Concept Design Group.
“This is a solid investment that returns gross rental of approximately $159,080 per annum plus GST.”
Scott Green said each building comprised a ground floor showroom, first floor office or residential accommodation, and rear high-clearance warehouse.
“Both the showroom and office accommodation were professionally designed and decorated with contemporary fittings and fixtures, and there are spacious kitchen and toilet facilities as well,” he said.
“The warehousing is approximately 4-metre clear span and easily accessible via a number of automatic roller doors, plus there is a spacious hard stand area that can be secured.”
Scott Green said the location was another attractive feature of the site.
“It occupies a central location that is close to the proposed Aquis casino development and just north of the future Cairns International Airport redevelopment,” he said.
“It also enjoys excellent frontage to the Captain Cook Highway that sees approximately 30,000 cars passing daily.”
Stratford is situated approximately 5km north of the Cairns CBD and is one of only two designated industrial precincts in the northern suburbs of Cairns.