Longstanding IGA Investment Offered in High-Growth Cairns Corridor Through Burgess Rawson

A long-established IGA supermarket in Woree, Cairns that has traded successfully for more than 30 years is now on the market through Burgess Rawson’s Michael Hooper and Tony Isaac.

Located at Suite 1, 12–24 Toogood Road, the property is secured by a ten-year lease to 2031, with four further five-year options extending to 2051. The lease includes fixed annual rent increases of 2.5%, generating a current net income of $198,328 per annum plus GST.

Occupying a high-profile 899sqm ground floor tenancy, the IGA has recently undergone capital upgrades, including new flooring and merchandise shelving — further evidence of the tenant’s ongoing investment and the site’s strong performance.

Strategically located within the thriving Woree Business Centre, the property is surrounded by complementary businesses including Liquorland, QML Pathology, a medical centre, and various professional tenancies. It sits just 100 metres from Mulgrave Road, the major arterial linking Cairns’ southern suburbs to the CBD, with more than 35,000 vehicles passing daily.

“This is a rare chance to acquire a truly proven retail performer in one of Queensland’s most vibrant regional hubs,” said Mr Hooper. “The long-term commitment reflects the tenant’s confidence in the site, where the store has operated successfully for over 30 years.”

Mr Isaac added, “IGA’s presence here is long-established and very well supported by the local community. The lease terms, location strength and tenant calibre all combine to deliver a reliable and growing income stream.”

Cairns continues to outperform as Queensland’s second-largest regional city outside the southeast, boasting a Gross Regional Product of $11.46 billion and a current population of more than 175,000. Forecasts suggest population growth will exceed 240,000 by 2050, reinforcing the region’s long-term appeal for investors.

Part of the national Independent Grocers of Australia (IGA) network — comprising over 1,200 stores and generating more than $8.3 billion annually — this tenancy represents an exceptional opportunity to secure a stable and well-established income-producing asset.

Michael Hooper
Mhooper@burgessrawson.com.au
0488 332 682

Tony Isaac
tisaac@burgessrawson.com.au
0484 051 748