53 Morehead StreetBungalow QLD 4870
Property Details for 53 Morehead St, Bungalow
Last Listing description (April 2023)
Colliers Cairns offers for sale the industrial freehold property located at 53 Morehead Street, in Bungalow. The property is being offered to the market for sale by expressions of interest closing Thursday 13 April at 4pm.
Comprising 495m2 of freehold land, 53 Morehead Street is positioned on the fringes of the Cairns industrial hub of Portsmith. Providing holding income, the property is currently occupied by a long-term tenant now on a periodical lease agreement allowing for either renegotiation of lease or refurbishment and repositioning of the property.
Improvements include a single level masonry block and iron clad open span portal frame high clearance industrial workshop with rear access. With an internal floor area of approximately 225m2 , the property has 3.4m* wide access from the front to back as well as a 4.5m side access. There is a reception area with office space and basic staff amenities all positioned towards the front of the building.
To the rear of the property behind the main building is a mesh enclosed outwork skillion roofed area allowing for open air tasks.
Currently tenanted on a month-to-month basis with a long standing capable tenant, there is opportunity to renegotiate rental and terms or potentially seek vacant possession.
Bounded by a mix of industrial business and residential homes, the subject property provides convenient access to the nearby main thoroughfares of Spence Street and Hartley Street. This industrial zoned freehold could suit a multitude of businesses applications which could benefit and directly draw from its proximity to the CBD and industrial precinct.
Features:
- Freestanding open span portal frame building
- High clearance workshop area
- New roof
- Rear side access
- External lockable storage
- 3-phase power
- Existing long standing tenant currently on month to month tenure
- Convenient access to main thoroughfares
- Staff amenities - kitchenette and bathroom
- Approximately 2.9km from the Cairns CBD
For sale by expressions of interest closing Thursday 13 April. For more information, contact the agent.
Please note the seller reserves the right to sell ahead of close.
*approximately
All information contained herein is gathered from sources we believe to be reliable. However, we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
Colliers - a leader in global real estate services, defined by our spirit of enterprise. Through a culture of service excellence and collaboration, we integrate the resources of real estate specialists worldwide to accelerate the success of our partners. We represent property investors, developers and occupiers in local and global markets. Our expertise spans all property sectors - office, industrial, retail, residential, rural & agribusiness, healthcare & retirement living, hotels & leisure. Colliers is Australia's own global real estate success story.
Property History for 53 Morehead St, Bungalow, QLD 4870
- 23 Mar 2023Sold for $495,000
- 10 Mar 2023Listed for Sale Contact Agent
- 22 Jun 1987Sold for $46,000
Recent sales nearby
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About Bungalow 4870
The size of Bungalow is approximately 2.2 square kilometres. It has 3 parks covering nearly 1.9% of total area. The population of Bungalow in 2016 was 2159 people. By 2021 the population was 2358 showing a population growth of 9.2% in the area during that time. The predominant age group in Bungalow is 30-39 years. Households in Bungalow are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Bungalow work in a trades occupation.In 2021, 36.90% of the homes in Bungalow were owner-occupied compared with 34.70% in 2016.
Bungalow has 1,982 properties. Over the last 5 years, Houses in Bungalow have seen a 76.48% increase in median value, while Units have seen a 113.04% increase. As at 31 March 2026:
- The median value for Houses in Bungalow is $635,985 while the median value for Units is $430,468.
- Houses have a median rent of $600 while Units have a median rent of $450.
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