 Asset Class: | Medical |
 Price: | $ 875000 |
 Net Yield: | 6.11 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
Presenting a rare entry-level medical investment opportunity tenanted by a National Operator positioned in the Cairns Central Business District. <br><br>The property comes with a brand new 5-year lease with further 2 x 3 years options extending the lease to 2036 with an established operator Maven Dental. The current lease also boasts investor friendly 3% annual increases. <br><br>Seven strata suites complex is tenanted by other medical and office uses such as Mobility Healthcare, Optometry, Dentists, Lawyers, newsagent, and professional office suite. Adjoins another building includes Pharmacy, Subway and Financial Planners/Accountants. The property is fitted out for Dental purposes. It includes 4 dental chairs, 2 offices, sterilization and laboratory room, toilet, amenities room, reception and waiting lounge. It also comes with fully ducted air-conditioning and Disable stair access. <br><br>Don't miss the chance to capitalise on this fantastic entry-level opportunity to purchase a tenanted investment in a fully developing area with minimal option ever available.
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Cairns is the fifth most populous city in Queensland, with an estimated population of 175,000, and serves as a major commercial centre for Far North Queensland. <br><br>Cairns is a vibrant, relaxed tropical city, renowned as a premier tourist destination as well as a key hub for defense and various services. The main centre of Cairns is full of chic cafés, restaurants, bars, gift shops as well as a 4,800m² lagoon on the Esplanade. The Cairns Marina & Reef Fleet Terminal is only one block from the city centre and is the departure point for most Great Barrier Reef trips. <br><br>Over the past decade Cairns has become a services hub of Far North Queensland and is no longer a Tourism based economy, but a strong and diversified regional economy that supports new and existing industry, major investment in Health, Defence, Maritime, Education and various support industries that service the Cape up to Torres Straight and across to Weipa. <br><br>Cairns has seen tremendous growth in employment across all sectors. Underpinned by $1 billion* of regional projects and a further $11 billion* in the pipeline, Cairns is set to continue its transition into an innovative, global and prosperous centre with excellent access to regions within Australia and the rest of the world.
Additional Location Information FileMaven Dental: <br><a style="color:rgb(44, 123, 208);display:inline;" target="_blank" href="https://mavendental.com.au/"><u>Quality Dental Care for a Healthy Smile | Maven Dental</u></a><span></span><br><br><span style="color:rgb(0, 117, 128);font-weight:normal;">Maven Dental is part of the largest non-insurance-based dental support organisation in Australia, with over 100 locations across the country.</span><br><br><span style="color:rgb(60, 60, 59);">Our parent company, Abano Healthcare Group, is the operator of Maven Dental and 1300SMILES in Australia and Lumino The Dentists in New Zealand, creating a Trans-Tasman network of 200+ dental practices. We’re dedicated to supporting clinicians to provide the best quality dental care to their patients.</span>
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Lessee:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Abano Healthcare Australia Pty Ltd CAN 131333492. </span><a style="color:rgb(44, 123, 208);display:inline;font-weight:normal;font-style:normal;" target="_blank" href="http://abanohealthcare.com/"><u>Abanohealthcare.com</u></a><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> (Australasia’s largest dental support organisation. Operating as Lumino The Dentists, Maven Dental, 1300SMILES. 250 clinics)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Term:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 5yrs + 3 + 3yrs as from the 20th of February 2025.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Rental: </b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">$58,031.23pa (Rental Rate is $350/m2)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Outgoings Payable by the Lessee:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Council Rates, Body Corp fees, service of aircon units, general maintenance and cleaning, electricity and water charges. ( sinking fund and property management charges not recoverable)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Reviews: </b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Fixed 3% PA. Market review after years 5 and 8.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Security Bond:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> N/A while current Lessee is in occupation.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Current Rental:</b></span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> $58,031</span></p></li></ul><br><p style="">Rethink Investing has deducted $1,700 (Sinking fund) and $2,816 (property management) from the presented net income as a buffer. </p><br><p style=""><b>Net Income:</b> $53,515</p>
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Subject Property: $322 per Sqm 104 Grafton Street Cairns City QLD - $550 Per Sqm 3 & 4/129 Sheridan St Cairns City QLD 4870 - $300 Per Sqm 124 Spence Cairns City QLD 4870 - $425 Per Sqm
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Tenanted by </span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Australasia’s largest dental support organisation. Operating as Lumino The Dentists, Maven Dental, 1300SMILES - 250 clinics Australia-Wide</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">5yrs + 3 + 3yrs as from the 20th of February 2025</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Landlord friendly 3% annual increases </span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Highly sought after location</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">166 m2 of NLA</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>Entry-level medical investment opportunity tenanted by a national operator - Very rare </b></span></p></li></ul>
