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Current property: 23 Sidlaw Street, Smithfield QLD 4878

Property

Address

Value

Information not available

Attributes

Information not available

Type

Beds

Value, $

Comment

A unique investment property.
6 bedrooms all with own bathrooms 3 living areas and 2 kitchens plus 3 car garage .
We have a valid license as a student accomodation house , very rare in Cairns area that is worth dollars as will go with property .. From our back gate ( secured ) it’s about a further 150 m walk under highway viaduct  & your at JCU uni.
When covid hit international & interstate students dropped .
NDIS are in desperate need in this area to house clients 
. We were approached by an NDIS provider . We made a further $80 k of Reno’s to ensuites & bathrooms to comply . Ample parking on large block plus huge garage .
It is an ideal investment for an investor particularly a superfund to get a fantastic yield with a guaranteed Govt related tenant income . 
On long lease … ( they wanted 10 years we gave 7 years ) in case we wanted to go back to lucrative student accom market , in the future, after covid .
Students after 1st year are  desperately wanting to getaway from uni on campus accom due to cost and social restrictions  . 6 separate self contained rooms ensuites with locks on doors.
It is ideally situated close to Smithfield shopping centre & uni . 
My mate ( Michael’s wife  ) & my son Fabian own 67 pc and we have a 33 pc owner we really want to get rid of….  Confidentially, he has  not been been exactly straight with work we let him do for us .We tried to buy out but refused to sell to us & wants to go to market.
Timing happy to sell immediately or sit on our hands for a year or so due to rental yield , & can perhaps convince minor party to sell…
I am wanting an agent not focused on residential tenants but has a high investor ( wanting yield ) & networking data base .
Superfunds with excess cash would love …
It’s not a business but very much like that .. only have NDIS provider as tenant , who pays all outgoings .
Ray White is managing agent 
My business partner Michael & I own a further 4 properties achieving enormous holiday rental yield in Palm Cove .
If agent exceeds our expectations we are happy to discuss selling one or 2 of these on the short term .

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