Amid major works and investment in the area, a vacant hotel operation has come to market at Cairns’ historic Central Hotel.
The striking two-storey Queenslander was built on the corner of Lake and Spence Streets in the heart of the CBD in 1909. The major intersection boasts on its other three corners the Bolands Centre, the Adelaide Steamship Co building, and the newly-refurbished Chambers building.
While the Hotel’s interior has seen many reconfigurations over the years, its Federation-style exterior has been preserved. Several retail tenants already rent space on the site.
It also holds a commercial hotel licence, with extended trading to 3am, which is available to a potential tenant of the space being put to market.
On offer is a site of 388sqm within the Hotel with two street frontages and rear loading dock, and further option to divide the area.
At the centre is an attractive air-conditioned garden atrium area, and the rest of the space has been pared back awaiting the new tenant’s ideas.
Marketing literature specifies an “extensive landlord fit-out contribution available”, and that the leaseholder is required to have a hospitality background.
“Available for lease on the ground floor is an exciting vacant tenancy that is perfect for the next go-to hospitality offering in the city,” says Helen Crossley of Ray White Commercial in Cairns. “The owner has continually renewed the hotel licence, the goal now is to find a suitable tenant.”
Cairns continues its plans to become the star of the top end, showing population of more than 240,000 residents and major development investment. Jaz Mooney recently acquired the Grand Hotel for $8.5 million, with his own bold plans, the turn-around specialist suggesting “Cairns is going to look a whole lot different in three to five years”.
The Central Hotel lease offer is for a minimum five plus five years, with annual rental of $150k +GST.
