516 Mulgrave Road,
Earlville, QLD 4870

Ben Sands from RWC Gateway, as the exclusive selling agent is pleased to present to the market for sale 516 Mulgrave Road, Earlville for sale by Expressions of Interest.

This rare offering boasts main road corner frontage presenting a lucrative prospect for discerning investors. A modern, three-level, freestanding, mixed-use building currently fully leased to long-term occupants. The property has excellent exposure being directly adjacent to the Earlville Shopping Town and situated on Mulgrave Road.

This is an incredible opportunity to acquire a freehold, multi-tenanted investment in the heart of one of the best commercial precincts in the Cairns region.

The key investment highlights:
• 1,473 sqm* of building area across 2 levels plus basement car parking and storage.
• 1,355 sqm* corner facing freehold site with dual street frontages to Mulgrave Road and Rowe Street.
• Diverse tenancy mix with Medical / Allied Health, Retail, Office, Consulting etc.
• Current gross income of $577,047.26* P.A + GST anchored by QAIHC and Qld Country Bank making up 50%* of the income.
• Current estimated outgoings of $69,826.44* P.A + GST. Estimated Net Income: $507,220.82 P.A + GST.
• WALE (by income): 2.08 years as at 1 August 2024
• Rental income increasing in 2024 with upcoming three (3) rental reviews an estimated increase of $5,700* based on June CPI figures (3.81%).
• 39* on-site parking spaces reflecting excellent ratio 1 space per 38 sqm of lettable area (1:38).
• Facilities include an internal lift and common amenities to each level, disabled access ramps, common foyers, an onsite transformer, double wide crossover, ducted air conditioning, external awnings and signage.
• Excellent exposure to 30,000* vehicles daily along Mulgrave Road
• Located directly opposite Earlville Shopping Town home to Woolworths, Coles, Target, Big W, Rebel Sport, JB Hi-Fi and 100+ specialty stores.
• Close proximity to 'Earl Village' shops, Barr Street Markets, along with other national retailers along Mulgrave Road.
• Significant population growth forecast for Cairns underpinned by $1 billion of regional projects and a further $11* billion in the pipeline economic engine with a $14.2* Billion investment and development pipeline.
• Strategic location within a bustling professional services hub only 5km* to the Cairns CBD and 10km* to Cairns Airport by road.

516 Mulgrave Road, Earlville boasts an expansive frontage to Mulgrave Road, one of Cairns main arterial roads connecting the CBD to the southern suburbs and the Bruce Highway (A1). Astute investors have the opportunity to acquire a strategic investment 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 in the Cairns real estate market.

516 Mulgrave Road, Earlville is being sold via Expressions of Interest with all offers to be submitted on or before 5 pm Thursday 12 September 2024 (unless sold prior).

Contact the exclusive selling agents at RWC Gateway to learn more about this exciting opportunity and to arrange your private inspections.

* Approx.