Cairns City, Queensland
Exceptional Business Opportunity
$2,350,000
Business Description
Exceptional commercial complex trading as Cairns Night Markets. Situated in the heart of Cairns with two major street frontages.
Interesting and diverse entertainment for all and a must do for visitors to Cairns.
Extremely high foot traffic 2.7 million per year.
Perfect Esplanade location with a variety of 131 shops including 21 food outlets with seating for 200.
The complex is essentially structured as Management Rights but with fewer restrictions.
Involves admin duties only.
Excellent security of tenure with a Perpetual Term on the Body Corporate Agreements.
Remarkably stable business with low shop vacancy rates and lease terms of 12 months minimum.
Income is from Management and Marketing fees paid by Owner Occupiers and Tenants alike.
Very stable commercial business showing excellent and consistent growth.
Good salary of $120,910 excluding GST.
Office on title plus two exclusive use carparks and on site storage .
Can be operated by one person with ease.
No check-ins, no gardening, no set office hours.
The Cleaning & Security roles currently undertaken by the Body Corporate, can be taken back as the Managers responsibility with the benefit of an additonal approx. $100k to the net profit if required.
For detailed information on this property please contact Calvin Bailey.
Business Summary
Key Investment Insights
1. The business is a commercial complex known as the Cairns Night Markets, located in a prime location in the heart of Cairns with two major street frontages.
2. The complex offers a diverse range of entertainment options for visitors to Cairns and has a high foot traffic of 2.7 million per year.
3. The complex has 131 shops, including 21 food outlets with seating for 200, making it a popular destination for tourists and locals alike.
4. The complex is structured as Management Rights, but with fewer restrictions, and involves admin duties only.
5. The business has excellent security of tenure with a Perpetual Term on the Body Corporate Agreements and a remarkably stable business with low shop vacancy rates and lease terms of 12 months minimum.
6. The income for the business comes from Management and Marketing fees paid by Owner Occupiers and Tenants.
7. The business has shown consistent and excellent growth, with a good salary of $120,910 excluding GST.
8. The business includes an office on title, two exclusive use carparks, and on-site storage.
9. The business can be operated by one person with ease, as there are no check-ins, gardening, or set office hours.
10. The Cleaning & Security roles are currently undertaken by the Body Corporate, but can be taken back as the Manager's responsibility, resulting in an additional approximate $100k to the net profit if desired.
11. For more detailed information on the property, interested parties can contact Calvin Bailey.
