The largest approved residential development site in Toowoomba, spanning 42 hectares, is being offered for sale exclusively by Colliers International. In December last year, Hodge Holdings won the right to develop the land into an outstanding mixed use development with potential for over 600 dwellings.
Approvals are already in place for the first 79 residential allotments as well as a master plan approval for residential, retirement, aged care and manufactured housing development on the remaining land.
Brendan Hogan and Chris O’Driscoll of Colliers International are marketing the significant land holding through an Expressions of Interest campaign closing Wednesday 20 July.
Mr Hogan said: “This opportunity is ideally positioned for developers and investors seeking a strategic holding in one of Australia’s fastest growing regions with approvals already in place. The property is located in the heart of the growth corridor stretching from Toowoomba’s CBD to the new $300 million Brisbane West Wellcamp Airport.
“Multiple hospitals and major retail centres are in close proximity, including Clifford Gardens, which was recently purchased by Blackstone for near to $200 million. The proposed Glenvale Shopping Centre is also within walking distance of the site and is further supported by a new Coles supermarket that is within a short drive of the property,” Mr Hogan said.
“Toowoomba is Australia’s second largest inland city to the nation’s capital Canberra and is set for substantial growth with the population forecast to increase 37% by 2036 according to ABS.
“The Queensland State Government and Australian Government, with private enterprise, have recognised the strategic importance of this burgeoning city and there is now more than $10 billion worth of investment across the Toowoomba region.”
Mr O’Driscoll said: “About 15 minutes west of the property is the new domestic and international airport which recently welcomed its first Cathay Pacific flight from Hong Kong and boasts daily Qantas flights to various major Australian cities.
“Other landmark infrastructure projects include the Australian Government’s largest single funding commitment to a road project in Queensland, known as the ‘Toowoomba Second Range Crossing’.
“This is now under construction with a total estimated cost of $1.6 billion. Importantly, the government’s proposed ‘Inland Rail’ route linking nearby Brisbane to Melbourne, via Toowoomba, will place Toowoomba as a strategic intermodal inland port for Australia.
“The opportunity is complemented by the city’s strong level of social infrastructure which includes the growing University of Southern Queensland as well as leading primary and secondary schools.
The 42.2 hectare land holding is positioned across two titles at 229 Hursley Road and 6 Hillman Street in the suburb of Torrington, 7 kilometres west of the city centre, said Mr O’Driscoll.”