Biggest block of land in Toowoomba goes on sale
THE largest approved residential development site in Toowoomba, spanning 42 hectares, is being offered for sale.
In December last year Hodge Holdings won the right to develop the land into a mixed use development with potential for more than 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, July 20.
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," he said.
Toowoomba is Australia's second largest inland city to 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 Hogan added.
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."