97 & 99 Digger Street
338 & 340 Sheridan Street

Zoned: Tourist & Residential

This site has been on and off the market for years, but now is the time for it to be sold. The vendors expectations are now in line with the current market conditions.

The future value in the site for multi unit development is clear with the potential for over 5,500m2 of Gross Floor Area but unlike many other development sites there is strong cash flow available whilst the Development Application is approved and the market improves.

The Tropic Sunrise (338 Sheridan St and 99 Digger St) consists of 21 x 1 & 2 bedroom self contained units. Even at current rates and allowing for vacancy and management expenses there should easily be in excess of $160,000 net income per annum. Two Queenslanders (97 Digger St & 340 Sheridan St) also add income bringing the potential yield to over $175,000 per annum.

Unlike some opportunities, there are no catches. The income is easily accessible and potential development is Code Assessable under the current Cairns Plan.

For more information please contact Nicholas Slatyer on 0409 00 22 33.

NOTE The agent has taken all care, however buyers should make their investigations into the rental return and development potential of the site and not rely on the agents representations.