207 Sheridan StreetCairns North QLD 4870
Property Details for 207 Sheridan St, Cairns North
Last Listing description (September 2025)
Positioned on a generous 1,012m² freehold allotment at the junction of Sheridan Street and the Captain Cook Highway, Castaway's Backpackers delivers unparalleled vehicle exposure and premium signage potential.
This fully approved, turnkey hostel is offered on a "WIWO" (walk in, walk out) basis and comes complete with all current accreditations-making it a hassle-free acquisition with strong cash flow upside.
Key features include:
- Expansive communal spaces featuring multiple entertaining areas, dining and media rooms, plus a large pool
- Amenities and kitchens servicing both levels, ensuring guest convenience throughout
- Coin-operated laundry system, minimising management overheads while enhancing guest service and income
- A brand-new 40kW solar system, dramatically reducing operating costs and enhancing sustainability
Located in close proximity to the soon-to-open University Hospital, Cairns Base Hospital, and Cairns State High School-this property is well-positioned to meet future demand for affordable accommodation and student housing.
With vacancy rates at an all-time low and robust market fundamentals driving demand for budget-friendly stays, this asset represents a "safe as houses" investment. It offers reliable commercial cash flow today and significant upside for future development-whether expanding the existing hostel, converting to purpose-built student housing, or pursuing broader mixed-use redevelopment.
Don't miss this rare opportunity to secure a high-exposure, income-generating asset on the doorstep of the Cairns CBD-perfectly positioned for long-term capital growth.
Contact David Murphy today to receive a full Information Memorandum.
Property History for 207 Sheridan St, Cairns North, QLD 4870
- 18 Sep 2025Sold for $3,000,000
- 11 Jun 2025Listed for Sale UNDER CONTRACT | Contact David Murphy!
- 20 Jan 2025Listed for Sale CONTACT AGENT
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0About Cairns North 4870
The size of Cairns North is approximately 2.9 square kilometres. It has 6 parks covering nearly 9.7% of total area. The population of Cairns North in 2016 was 5191 people. By 2021 the population was 5334 showing a population growth of 2.8% in the area during that time. The predominant age group in Cairns North is 20-29 years. Households in Cairns North are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Cairns North work in a professional occupation.In 2021, 33.80% of the homes in Cairns North were owner-occupied compared with 29.20% in 2016.
Cairns North has 4,006 properties. Over the last 5 years, Houses in Cairns North have seen a 47.21% increase in median value, while Units have seen a 102.97% increase. As at 31 December 2025:
- The median value for Houses in Cairns North is $724,015 while the median value for Units is $465,575.
- Houses have a median rent of $550 while Units have a median rent of $500.
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