The Property

The Grosvenor is located close to Cairns CBD and is popular with both tourists and corporate travellers, providing excellent 4 star accommodation. It occupies a strategic corner position at Grove and McLeod Streets, just 5 blocks from Cairns CBD and 7 minutes drive from Cairns Airport.

The Grosvenor commenced operations in January 1997 and consists of 22 lots made up of 6 one bedroom apartments and 16 two bedroom, twin keyed apartments, thus providing 38 lettable fully self contained and self catering apartments. The configuration provides the Manager with enormous scope to maximise bookings, being able to offer, studios, 1 bedroom apartments and 2 bedroom 2 bathroom family apartments.

The apartments are spacious and maintained to a high 4 Star standard. A refurbishment fund ensures that the apartments remain up to date and the standard is maintained. A marketing budget of 5% of owners’ net income provides ample funds for the marketing of this popular complex.

There are two buildings with underground secure basement carparks. Being a city property there is not a great deal of garden, however the lush tropical garden that surrounds the swimming pool, BBQ and outdoor dining area makes for a very pleasant, enjoyable oasis.

The Manager’s 3 bedroom, 2 bathroom 1st floor apartment and Ground floor office is on title.

Features

• Manager’s 3 bedroom 2 bathroom 1st Floor apartment
• Manager’s ground floor office on title
• 4 star rating
• A very professionally operated complex.

The Facts

Location:	Cairns CBD Fringe	Reference Number:	1175
Building Type:	3 level walk-up	Agreement:	15 years
Built:	1997	Commenced:	2007
Total Apartments:	38	Salary:	$32,154
Letting Pool:	38	Manager’s Unit:	$295,000
Manager’s Unit:	3 bed, 2 bath	Net Profit:	$265,000
Office:	On title	Total Price:	$1,490,000

Contact Us About This Property

If you would like to discuss this property with us, or if you require more information, please contact us online, or by ringing Bruce Bennetts on 0418 773 547 or 07 4033 7885.