Cairns, Queensland

Enjoy a monopoly for student and transient accommodation in Cairns | Resort Brokers ID : FH008792

Under Contract / Offer

Business Description

MiHaven Living’s portfolio comprises three strategically located sites in central Cairns, each with a premium shared-living apartment complex for student and transient workers.

Totalling 131 rooms, the three sites — Pembroke Street Apartments, Gatton Street Apartments and Martyn Street Apartments & Sharehouse — are ideally positioned in a prime inner-city location near the Cairns CBD.

All are within easy walking distance of popular destinations such as Cairns Esplanade and Cairns Central Shopping Centre, and close to major education and tourist hubs, employment training centres and transport links.

Occupancy is incredible. For FY25, MiHaven Living achieved an occupancy rate of more than 95%, consistent with its performance in recent years. Most MiHaven Living’s tenants are on six-month tenancy agreements, creating a stable, reliable cashflow for the business.

These incredible occupancy figures are due to the high quality of MiHaven Living’s accommodations and the lack of rental options in central Cairns.

There are currently no significant projects in the pipeline for the region that would introduce similar accommodation into the market, further cementing MiHaven Living’s dominant position and ongoing demand.

- 131 rooms across 3 modern apartment buildings in central Cairns
- $1.35M+ net profit against a turnover of $2M+
- 95% occupancy underpinned by long-term tenancies
- Low-cost operation, run passively with minimal staff
- Increase room rates periodically to boost bottom line
- Diverse mix of high-quality tenants reduces risk
- Inspections by appointment only
Date updated: 21 Sep 2025 23:00:06