207 Sheridan Street, Cairns North, Qld 4870

bedrooms 30
bathrooms 11
parkingSpaces 6
|Unit
TENDER: * IN NEGOTIATIONS
TENDER: * IN NEGOTIATIONS
Published on: 12 Jun 2025
Last updated on: 10 Jul 2025
207 Sheridan Street, Cairns North, Qld 4870
207 Sheridan Street, Cairns North, Qld 4870
207 Sheridan Street, Cairns North, Qld 4870
+26
207 Sheridan Street, Cairns North, Qld 4870
  • 26
Property ID: 148246260
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Castaway's Backpackers - Prime City Fringe Investment Opportunity

207 Sheridan Street, Cairns North, Qld 4870
Positioned on a generous 1,012m² freehold allotment at the junction of Sheridan Street and the Captain Cook Highway, Castaway's Backpackers delivers unparalleled vehicle exposure and premium signage potential.

This fully approved, turnkey hostel is offered on a "WIWO" (walk in, walk out) basis and comes complete with all current accreditations-making it a hassle-free acquisition with strong cash flow upside.

Key features include:
- 34 rooms in total (including dedicated manager's suites)
- Expansive communal spaces featuring multiple entertaining areas, dining and media rooms, plus a large pool
- Amenities and kitchens servicing both levels, ensuring guest convenience throughout
- Coin-operated laundry system, minimising management overheads while enhancing guest service and income
- A brand-new 40kW solar system, dramatically reducing operating costs and enhancing sustainability

Located in close proximity to the soon-to-open University Hospital, Cairns Base Hospital, and Cairns State High School-this property is well-positioned to meet future demand for affordable accommodation and student housing.

With vacancy rates at an all-time low and robust market fundamentals driving demand for budget-friendly stays, this asset represents a "safe as houses" investment. It offers reliable commercial cash flow today and significant upside for future development-whether expanding the existing hostel, converting to purpose-built student housing, or pursuing broader mixed-use redevelopment.

Don't miss this rare opportunity to secure a high-exposure, income-generating asset on the doorstep of the Cairns CBD-perfectly positioned for long-term capital growth.

Contact David Murphy today to receive a full Information Memorandum.

Property Details

Basic Info

Property Type
Unit
Listing Status
On Market
Parking Spaces
6
Land Size
1,012.00 m2
Rooms
30 bedroom(s), 11 bathroom(s)
Address
207 Sheridan Street, Cairns North, Qld 4870

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David Murphy
David Murphy
Ray Murphy
Ray Murphy
37 Grafton Street, Cairns City, Qld 4870
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David Murphy
David Murphy
Ray Murphy
Ray Murphy
37 Grafton Street, Cairns City, Qld 4870
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      Property ID: 148246260

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