Freehold property at 23-25 Shields Street returns a combined income of more than $100,000 per annum from the two long-term tenants - UNiTAB Limited on the ground floor and Cope Family Law on the first floor.

Offering sought-after direct frontage to busy Shields Street and set on 145sqm of land, the freestanding double-storey building offers 138sqm (approx) lettable area on the ground floor and 130sqm (approx) on the first floor. The land carries a City Centre Commercial Zoning.

This property is centrally located on one of the busiest pedestrian strips in the CBD - the strip that connects the Cairns Esplanade with the Cairns Central Shopping Centre.

UNiTAB's seven year lease runs until November 2013 while the law firm's nine year lease runs until February 2013, with a further three year option.

Complementing the two tenancies are male and female amenities and kitchenettes on both levels, plus internal stairs to the first floor via a separate entrance area directly off Shields Street.

The property is an easy walk to all attractions of Cairns' inner-city, the property is surrounded by retail outlets, cafes, restaurants, hotels, cinemas, tour booking offices and accommodation.

The building itself is of masonry brick construction boasting full glass shop frontage on the street level to maximise exposure to passing traffic. On the upper level, however, there's slated style privacy screening on front exterior fascia to optimise the privacy of tenants.

This location will undergo redevelopment funded by local government with the aim of revitalizing and opening up the central mall and transit centre.

The property at 23-25 Shields Street, Cairns, will be auctioned at 11am on October 6th, 2011 at the Sebel Cairns Hotel.