Cairns Retail Precinct Openings Draw Local Operators Ahead of 2027 Completion

A 12,500-square-metre mixed-use development on Abbott Street between Lake and Grafton streets received final planning approval last month and will deliver ground-floor retail and first-floor offices from December 2027.

The project arrives as Cairns records its strongest inward migration since 2019, with the regional economy adding 4,800 jobs in the year to March 2026 according to Australian Bureau of Statistics data released in May. Property analysts at Colliers note that vacancy rates in the Cairns CBD have fallen to 7.2 percent, the lowest level since 2018, pushing demand for new stock.

Early tenants include established names

Local cafe chain The Coffee House has secured a 180-square-metre corner tenancy facing the new public plaza, while Cairns-based accounting firm North Queensland Partners has taken an entire first-floor suite of 420 square metres. Both operators cited proximity to the Esplanade tourist strip and direct pedestrian links to the Cairns Central bus interchange as decisive factors.

Chamber of Commerce president Michael O’Brien said at least eight other locally owned businesses have submitted expressions of interest for the remaining retail bays, with priority given to tenants that already trade elsewhere in the city.

Lease rates and next steps for operators

Current asking rents sit at $480 per square metre for ground-floor retail and $320 per square metre for office space, figures confirmed in the developer’s March 2026 information memorandum. Prospective tenants can contact leasing agent Savills Cairns at its Spence Street office for floor plans and fit-out allowances, which start at $1,200 per square metre for basic retail fit-outs.

Applications close on 15 August 2026, with construction expected to begin in September once the final heritage review for the adjacent 1920s laneway is completed.