FOR SALE
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1/12-20 Toogood Road
Woree QLD 4868

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Long Term Tenanted Investment

Colliers Cairns offers for sale this retail investment property located within the Woree Business Centre in suburban Cairns City. The property is offered for immediate sale at the listed price of $2.85M.
Offered with an existing long-term supermarket tenancy, the subject property presents an opportunity for investors to secure a proven tenant in a substantial building, located within an established suburban location.
The IGA supermarket business has been successfully operating out of the same building for 29 plus years and shares its location with Liqourland, QML Pathology, Southcare Medical and Woree Business Plaza. The current lease which commenced in July 2021 provides rental security till 2031 with an additional four, 5-year options.
Current income is set at a gross rental of $246,000 per annum + GST with fixed increases of 2.5% annually and review to market provisions.
Features:
-Long term IGA supermarket tenant
-Part of a well-located suburban centre with ample convenient parking
-Recently commenced 10-year lease with options
-Passing gross income of $246,000pa + GST with fixed 2.5% annual increase
-High traffic, proven location
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Property Details for 1/12-20 Toogood Rd, Woree

Building Type
Commercial

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About Woree 4868

The size of Woree is approximately 5.8 square kilometres. It has 10 parks covering nearly 27.5% of total area. The population of Woree in 2011 was 4,826 people. By 2016 the population was 4,822 showing a population decline of 0.1% in the area during that time. The predominant age group in Woree is 20-29 years. Households in Woree are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Woree work in a trades occupation. In 2011, 44% of the homes in Woree were owner-occupied compared with 42.8% in 2016.

Woree has 2,876 properties. Over the last 5 years, Houses in Woree have seen a 63.32% increase in median value, while Units have seen a 80.79% increase. As at 31 October 2024:

  • The median value for Houses in Woree is $511,006 while the median value for Units is $247,042.
  • Houses have a median rent of $510 while Units have a median rent of $375.
There are currently 24 properties listed for sale, and 11 properties listed for rent in Woree on OnTheHouse. According to CoreLogic's data, 116 properties were sold in the past 12 months in Woree.

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Stacey Quaid
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Colliers International (Cairns)
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