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Toowoomba CBD site of major unit development opposite Grand Central sells for nearly $1m

It’s the site of a major unit development that has earned council approval. Now a CBD commercial property has reportedly sold for more than $900,000.

The Toowoomba CBD site which has been approved for a major unit development has reportedly sold for close to $1 million.

The multi-tenancy commercial property on Mylne St in Toowoomba City, which is a 30-second walk from Grand Central Shopping Centre, was sold through Colliers International for $930,000.

Grand Central’s owner and operator, the Queensland Investment Corporation, was listed as the previous owner.

While the buyer has not been revealed, developer Barry Bernoth was approved by the Toowoomba Regional Council in February for a four-storey, 12-unit development at the site.

The 15m-tall building will include a variety of one, two and three-bedroom units with balconies, 21 car parks, a communal landscaped garden area and space for a small commercial project on the ground floor.

Speaking at the time, Mr Bernoth said more residential development was needed for the CBD, welcoming the council’s decision.

“It’s all good news and it’s going to get a few more people living in the city,” he said.

Colliers agents Dan Dwan and Justin Eastwell were contacted for comment.

Originally published as Toowoomba CBD site of major unit development opposite Grand Central sells for nearly $1m

Original URL: https://www.couriermail.com.au/news/toowoomba/toowoomba-cbd-site-of-major-unit-development-opposite-grand-central-sells-for-nearly-1m/news-story/509f79ec9fdfc1204e9fb91aa9cc293f