283A-287 Lake StreetCairns North QLD 4870
Property Details for 283a-287 Lake St, Cairns North
Last Listing description (June 2022)
JLL Hotels & Hospitality is delighted to present for sale the Tropical Queenslander via Expressions of Interest. This land-rich property offers a strong cash flow - even in the face of COVID - off the back of substantial trading with hospital patients and guests given its close proximity to the Cairns Hospital.
Investment highlights include:
- 58-key freehold going concern motel that has traded well despite border closures
- Significant 3,708sqm* site with three street frontages and future development potential (STCA)
- Strategic location in close proximity to Cairns Hospital and The Esplanade
- Substantial hospital-related trade that the motel benefits from, could potentially be increased by the incoming operator
- Strong return in 2021 which will likely increase with the opening of state and international borders
- Forecast EBITDA $749,000* (owner-operated) for FY2022
For Sale by Expressions of Interest closing Tuesday 12th April 2022
*Approx.
Property History for 283a-287 Lake St, Cairns North, QLD 4870
- 03 Sep 2022Sold for $5,500,000
- 09 Mar 2022Listed for Sale Contact Agent
- 05 Aug 2021Listed for Sale $7,500,000
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About Cairns North 4870
The size of Cairns North is approximately 2.9 square kilometres. There are 6 parks, covering nearly 9.7% of the 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 3,990 properties. Over the last 5 years, Houses in Cairns North have seen a 51.27% increase in median value, while Units have seen a 102.53% increase. As at 30 June 2026:
- The median value for Houses in Cairns North is $793,888 while the median value for Units is $498,626.
- Houses have a median rent of $695 while Units have a median rent of $550.
Suburb Insights for Cairns North 4870
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