FOR SALE
$3,630,000

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Palm Cove QLD 4879

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NET INCOME $716,000 - IMPRESSIVE RETURN ON INVESTMENT

Palm Cove is a much loved and sort after suburb of Cairns, renowned for its enclave of luxury hotels and fine-dining restaurants.
The beachside village is centred around a palm tree lined esplanade. Hire a kayak and paddle off the beach, fish off the jetty or boat to the islands. Palm Cove has been rated as one of Australia's top ten beaches. World heritage wonders of the Daintree Rainforest and the Great Barrier Reef are at your doorstep.
Conveniently located a short 20-minute drive from Cairns International Airport whilst Cairns city is a brisk 30-minute travel.
This beautiful holiday resort offers facilities such as pools, BBQ area, spa, tour desk and wi-fi.
Presently run under management, this provides an upside for an owner-operator to maximise revenue and profitability, such as securing lets from outside real estate agents and increasing the businesses letting pool.
On-site manager is well accommodated with a roomy apartment consisting of three bedrooms, two bathrooms and one car space.
Management Rights Agreements have a healthy 21 years remaining, currently providing a tidy Body Corporate Salary of $187,000 p.a. (ex-GST) and increasing yearly by CPI.
Representing a perfect balance of lifestyle and business, within paradise.
Contact me for more information now!

Property Details for Contact Agent For Address, Palm Cove

Building Type
Commercial

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About Palm Cove 4879

The size of Palm Cove is approximately 3.6 square kilometres. It has 11 parks covering nearly 24.5% of total area. The population of Palm Cove in 2011 was 1,656 people. By 2016 the population was 2,082 showing a population growth of 25.7% in the area during that time. The predominant age group in Palm Cove is 60-69 years. Households in Palm Cove are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Palm Cove work in a professional occupation. In 2011, 49.6% of the homes in Palm Cove were owner-occupied compared with 57.1% in 2016.

Palm Cove has 2,785 properties. Over the last 5 years, Houses in Palm Cove have seen a 66.77% increase in median value, while Units have seen a 56.68% increase. As at 31 August 2024:

  • The median value for Houses in Palm Cove is $1,021,961 while the median value for Units is $528,118.
  • Houses have a median rent of $780 while Units have a median rent of $473.
There are currently 56 properties listed for sale, and 6 properties listed for rent in Palm cove on OnTheHouse. According to CoreLogic's data, 139 properties were sold in the past 12 months in Palm cove.

Suburb Insights for Palm Cove 4879

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Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.