Colliers Cairns are pleased to offer for sale the last substantial development parcel fronting the Cairns Esplanade. Currently known and trading as the “Caravella Backpackers”, the adjoining properties are positioned at 149-151 Esplanade, 153 Esplanade and 132 Abbott Street. The properties are being offered to the market for the first time for sale by Expressions of Interest.

Representing the last substantial development parcel along the Cairns Esplanade, the properties are currently operating as a long-standing and vibrant backpackers’ facility offering immediate holding income for the new owner.

Offered to the market for the first time, the subject site spans over 3 titles with a substantially sized combined area of 2,543m2*. Incorporated into the site are five free-standing buildings which encapsulates the hostel’s reception area, common areas, café/bar and accommodation facilities. Strategically positioned, the free-standing buildings are centred around a swimming pool and open recreational space.

Maximise ocean and mountain views – appropriately zoned under the Cairns Planning Scheme, the combined sites hold the potential for a mixed-use 14 storey development. Substantial dual street frontages offer the opportunity to capitalise on the direct water views to the east overlooking the Esplanade whilst retaining vehicular access to the west along Abbott Street.

Bounded by thriving businesses, high-level accommodation and an array of professional services, the site is perfectly positioned in the city confines to benefit from its surroundings. With the development potential to create a multiple dwelling complex, resort complex, hotel, short term accommodation or retirement facilities, the site has the potential to capitalise on its central location, substantial size and surrounding infrastructure.

Features:

- Development potential for a 14-storey building
- Existing holding income from operating hostel
- Strategic Esplanade fronting location
- Substantial 2,543m2* across three titles
- Dual street frontages
- Bounded by substantial infrastructure
- Prominent exposure and central CBD location

Offered to the market for the first time, the cumulated titles known as the “Caravella Backpackers” are for sale, in one line, by Expression of Interest. For more information, contact the agent.

*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.
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