One of Cairns' best-known commercial buildings has been listed for sale, with the fully leased landmark at 22 Spence Street expected to attract offers north of $8 million as investors continue to target high-performing regional assets backed by tourism and diversified income.
The privately owned property occupies a prominent 1,702 sqm corner site in the heart of the Cairns CBD and comprises 1,919 sqm of retail, hospitality and entertainment accommodation across 12 fully occupied tenancies.
The heritage-listed building generates a passing net income of almost $700,000 per annum and benefits from a diversified tenancy profile, with no single tenant accounting for more than 21 per cent of income.
For sale through Daniel Wolman, Daniel Cullinane, Ned McConnell and Zac Edmonds of Cushman & Wakefield, the campaign comes as investor confidence continues to strengthen across Queensland's regional markets, supported by population growth, infrastructure investment and the resilience of tourism-driven economies.
Daniel Wolman, International Director, Head of Investment Sales Australia at Cushman & Wakefield, said the property is expected to appeal to private investors, family offices and syndicates seeking secure income with long-term upside.
"We're seeing increasing demand for high-quality regional investments that combine diversified cash flow with genuine asset management opportunities.
"Cairns continues to attract investors from across the country who recognise the strength of its underlying economy and the city's role as Far North Queensland's commercial and tourism capital. A fully leased landmark asset of this scale is expected to generate strong interest."
Located within walking distance of the Esplanade, Cairns Convention Centre, Reef Hotel Casino, Cairns Central and the city's principal tourism and hospitality precinct, the property also benefits from contracted rental growth through fixed annual rent reviews and future potential to enhance income through improved outgoings recovery.
Daniel Cullinane, National Director & Head, Investment Sales, Queensland at Cushman & Wakefield, said the property's combination of scale, location and heritage character made it one of the most compelling commercial offerings currently available in regional Queensland.
"This is an iconic Cairns asset that occupies one of the city's premier corner positions and has become an integral part of the CBD's retail and hospitality landscape.
"The building offers investors a highly diversified income stream across 12 established tenants, while its substantial landholding, heritage character and central location provide long-term strategic value that is increasingly difficult to replicate. We expect this to be one of the standout regional investment offerings of the year."
The property is being offered for sale via Expressions of Interest through Cushman & Wakefield on behalf of a private vendor, with the campaign closing at 4pm (AEST) on 9 September 2026.
