Seize the opportunity to invest in a meticulously upgraded and fully council-approved backpackers/boarding house located in the heart of beautiful Cairns. This property features 34 rooms including a one-bedroom unit for caretaker with a capacity for 52 guests + caretakers, perfectly positioned on Sheridan Street ? the main thoroughfare connecting the city to the international airport. Just three blocks from the renowned Cairns Esplanade, this is a prime spot for attracting both international travelers and local boarders.
Investment Highlights:
- High Returns Potential: Achieve a solid 12% return as a boarding house, with potential for increased profitability as a backpackers? accommodation by capitalizing on rising room rates and tour packages.
- Extensive Upgrades & Improvements: The property has undergone significant enhancements, including:
- Renovations & Repairs: New architectural plans, upgraded electrical systems, new flooring, extensive plumbing upgrades, and refreshed paint externally and internal common areas and many rooms.
- Room Enhancements: New curtains, blinds, large fridge/freezers, beds & mattresses in many, linen, and crockery. Rooms feature energy-efficient lighting.
- Facility Upgrades: Modernized kitchen, renovated bathrooms, new pool pump motor, new hot water system and extensive plumbing upgrades, upgraded pool fence, and extensive landscaping. Also 40kW of solar installed only two years ago.
- Safety & Security: Enhanced fire safety with new smoke alarms and fire hydrants, upgraded front gate with a keypad lock, and improved security systems and WIFI.
- Convenience Additions: Coin-operated boxes for air conditioning units in rooms and coin operated laundry facilities.
Additional Features:
- Pool Area: Pristine tropical pool with new fence.
- Common Areas: Upgraded cinema room with a new TV, recently refurbed pool table, and extensive landscaping with tree removal and garden enhancements.
- Operational Efficiency: Reduced costs with efficient cleaning supplies and systems, and newly installed drainage systems. Easy operation with minimal staff, current operators manage from interstate and operation can dramatically improve and the potential is enormous. This business can be run easily by one person with no more than a couple of hours of effort per day with no experience.
Why Invest?
This property?s comprehensive upgrades position it as a lucrative investment in a sought-after location. With its prime location, modern amenities, and extensive renovations, this backpackers/boarding house promises attractive returns and growth potential. The added opportunity to increase profitability through room rate adjustments and tour offerings makes this an exceptional investment in the vibrant city of Cairns.
Contact Us:
For more information or to arrange a viewing, please contact us today Kate Fern Powerhouse Property 0477701502. Don?t miss out on this fantastic opportunity to invest in one of Cairns' premier properties!