New plans for a landmark but long-neglected site in Toowong to be put out for community feedback

A world-class commercial, residential, hotel and retail precinct planned for a prime inner-Brisbane location has taken another step forward, in a move that will target the local community.

An artist's impression of the High Street view of Toowong Central.

The owners of a 1.4ha landmark site in the heart of Toowong are progressing plans for a world class commercial, residential, hotel and retail precinct, and expect to lodge a development application in the coming months.

The inner western suburbs site, with frontages on High St, Sherwood Rd and Jephson St formerly housed a Woolworths supermarket and has been vacant for some time.

The project’s three owners, as Toowong Central Investment Holding Pty Ltd, were now developing an integrated plan that will transform the precinct.

The enlarged landholding now also takes in a heritage-listed building on High Street currently tenanted by a dry cleaner, the Sunlit supermarket and a commercial building at 88 Jephson St.

It has two existing, separate Brisbane City Council development approvals that include five high‑rise buildings.

“We understand the importance of the site and we look forward to delivering a high-quality outcome that meets the needs of the Toowong community and that is commercially successful,” a Toowong Central Investment Holding spokesperson said.

An artist's impression of the High Street view of Toowong Central.

Project manager Verso Developments has enlisted globally respected architects KHA to create a design that considers a range of community feedback collected over the past six months.

Preliminary designs will open up the ground plane to create a highly activated space and a new heart for the Toowong.

More detailed design will be presented to the community for further feedback in the coming months, prior to finalisation of a development application.

The site has a chequered history.

A syndicate run by RW Capital and State Development Corporation had purchased the site in 2020 from Stockland and planned a $450m town centre development but plans stalled because of the economic climate and the Covid-19 pandemic.

Brisbane-based investment company IJ Capital paid $53m in 2023 for the 9000sq m site on the corner of Sherwood Rd and High St.

The original site also included 80-88 Jephson St which they had earlier sold to the Po Seng Group.

It was reported that the new owners of the site had planned to $1bn plus retail, office and residential development.