One of Cairns’ most recognisable landmark buildings, The Bolands Centre, has been brought to market, offering investors the opportunity to acquire a fully leased, income-producing asset with more than a century of history at the heart of Far North Queensland.
Occupying a prominent 2,362sqm corner site at the intersection of Lake and Spence Streets in the Cairns CBD, The Bolands Centre comprises approximately 3,711sq m of lettable area, including serviced offices, conference facilities and ground-floor retail space.
Originally established in 1911, the property underwent a meticulous restoration between 2007 and 2009 at a cost of more than $9 million, transforming the historic building into one of Cairns’ premier commercial destinations while preserving its heritage character.
Today, the building accommodates around 70 serviced offices and meeting facilities alongside retail tenancies, reflecting the growing demand for flexible workspace solutions within the Cairns CBD.
The fully occupied asset is secured by a long-term head lease generating $1 million per annum net income, with fixed annual rental increases of 3%, a WALE of 10 years and options extending a further 25 years.
The property is being offered for sale via a Private Treaty campaign run by Knight Frank agent Rob Macfarlane.
The listing price is $14.9 million.
Mr Macfarlane said The Bolands Centre represented one of the most significant investment opportunities to come to the Cairns market in recent years.
“Opportunities to acquire a landmark asset of this calibre are exceptionally rare,” he said.
“The Bolands Centre is one of Cairns’ most recognisable buildings and has occupied one of the city’s most prominent corners for more than 114 years. It stands as a symbol of Cairns’ entrepreneurial spirit, architectural character and commercial resilience.
“Following a substantial restoration program, the property successfully blends the charm and grandeur of its historic origins with the functionality required by today’s commercial occupiers.
“It offers investors a secure and passive income stream underpinned by a long-term lease, while also providing ownership of an irreplaceable CBD landmark with strong future appeal.”
Mr Macfarlane said the property’s evolution over time highlighted its enduring relevance within the local market.
“Originally home to 14 retail tenancies, The Bolands Centre has adapted to changing workplace trends and now accommodates around 70 serviced offices and conference facilities,” he said.
“That flexibility has enabled the building to remain highly sought after and fully occupied, while retaining its status as one of Cairns’ most beautiful and recognisable commercial properties.
“With a 5-star NABERS Energy Rating, prominent corner position and secure lease profile, it offers the type of investment fundamentals that are increasingly difficult to find.”
Positioned within the heart of the Cairns CBD, The Bolands Centre benefits from close proximity to the Cairns Esplanade, Cairns Central, the waterfront precinct, major transport infrastructure and key civic amenities.
Cairns continues to be supported by significant public and private investment, major infrastructure projects and long-term economic growth drivers across tourism, healthcare, education and defence.
Related Articles
