This article is from the Australian Property Journal archive
TWO inner-Cairns hotels are being offered to the market as the number of visitors to the northern Queensland destination continues to grow.
The properties, comprising the 4-star Cairns Southside International and the 3.5-star Cairns City Sheridan, are being offered individually or in one line with expectations of fetching a combined circa $10 million.
The 4-star Cairns Southside International hotel is on a 3,331sqm site at 446 Mulgrave Road on the CBD fringe and comprises 62 rooms, 35 parking spaces, restaurant, bar, in-room dining and outdoor swimming pool.
The Cairns City Sheridan is positioned on a 1,425sqm site at 157 Sheridan Street in the CBD, and has 35 rooms, 15 car parking spaces, Sheridan Lounge Bar and outdoor swimming pool. It is being offered with an adjoining 1,016sqm retail component at 153 Sheridan Street that has four retail stores with one vacant and leased on a year-by-year or monthly basis.
The properties are being offered with vacant possession available by Nic Simarro of Savills, on behalf of NEVGOLD Pty Ltd and Main Race Pty Ltd via expressions of interest closing June 23rd.
“There is minimum supply, as Cairns has not seen a new hotel in nearly 20 years but Cairns International Airport saw an increase of 15.2% of international tourists,” Simarro said. “Cairns serves as a gateway to the World Heritage Listed Great Barrier Reef and Daintree Rainforest, northern beaches, Port Douglas, Cape Tribulation and Mission Beach.”
Australian Property Journal
