40 Douglas Street,
Thursday Island, QLD 4875
Key property information
Map of 40 Douglas Street
High Yielding Island Investment
- Mixed use commercial/residential
- Main street location
- Existing gross income $63,400
40 Douglas Street Thursday Island is a mixed-use commercial office & residential complex current providing passing income of $63,400 pa*.
Compared to mainland city locations such as Cairns or Brisbane which offer an average return on residential investments of less than 4%, a purchase on Thursday Island presents far more lucrative and attractive alternative. While investors continue to seek out secure high yield properties under an umbrella of all-time low interest rates, Thursday Island continues to produce high rental returns amidst demand outweighing supply.
Thursday Island is the commercial, transport and administrative hub for more than thirty Federal and State Government agencies that service this region.
In a region where the majority of property ownership is retained under native title, 40 Douglas Street is one of the very scarce number of commercial freehold properties currently available for purchase on the Island.
The region is experiencing growth for three reasons:
• High Government spending
• Strategic National Security importance
$46 million of government funding is now allocated for the redevelopment of the TI Hospital and Primary Health Care Facility, and a $17.8 million programme of health infrastructure upgrades in the Torres Strait region is underway.
The region is strategically recognised by the Federal Government as being central to Australia’s border and bio security - being our only shared border with another country and a major world shipping route. In response Australian Border Force, Federal Fisheries, Australian Quarantine Services and Australian Defence Forces have all increasing staffing levels.
Thursday Island and the surrounding region is fast attracting some of tourism’s biggest players. Evident by the announcement in late 2017, international cruise ship company, Azamara to feature Thursday Island in its cruising schedule. This in addition to Viking Cruise liners that has also recently begun to frequent the Island.
Increase in demand for commercial and personal accommodation will continue to place upwards pressure on rental yields and in turn property values.
The property is improved with two detached buildings; the front of the block features two leased areas including an office occupied by Relationships Australia and a second shop front currently transformed into a 2-bedroom residential unit. The rear building comprises a high-set duplex comprising of two separate fully self-contained residential flats – one being two bedrooms the other a one bedroom.
Sold fully occupied, all leases remain on a periodic basis to provide the incoming buyer with the flexibility of extending the leases on your own terms; or alternatively secure the property for their own benefit by utilising the office for their own enterprise while accommodating staff in the balance of the property (or any combination thereof).
By definition, an island will typically have increased demand and tight supply providing an environment which germinates healthy returns. The attractiveness of 40 Douglas Street is compounded by its position on the main street in the heart of CBD.
The purchase of 40 Douglas Street represents a uniquely rare and lucrative opportunity to secure freehold position on the main street monopoly board game of land ownership on Thursday Island.
Inspections of the property are strictly by appointment and can only be arranged through the marketing agent.
The property is offered for sale at the listed price of $629,500.
Act now - contact Jay Beattie 0428 551062 for further details regarding this exciting opportunity.
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Property ID: 502937902Last Updated: 16 May 2019
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