163 Draper Street

This asset was strategically acquired on behalf of a private investor seeking higher returns on a short-WALE asset that had upside in being repositioned to showroom. Since acquiring the asset in 2022, Trident Funds Management negotiated a new lease with the State Government occupant on a longer-term lease and higher rent in a low-incentive, low-supply office market. This has resulted in growth of the investors income by 35% since acquisition, providing an initial annual return of > 12% p.a.

Strategically located on the fringe of Cairns CBD, the asset is leased by a single Queensland Government tenant. The building of 2,058m² with 62 off-street secured parks and has a strong weekly staff attendance of 200 staff.