Toowoomba land parcels with attached projects for sale through Place Projects, DC Commercial
Two “rare” land parcels with attached development approvals for a subdivision and luxury apartments have hit the market in separate campaigns.
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A pair of vacant parcels in lucrative Toowoomba locations with approved development plans have hit the market at the same time.
Developer Broc Winten has listed two lots totalling nearly 1000 sqm on Royal Street in Toowoomba City for nearly $1.3m through DC Commercial.
The sale offer includes plans approved through the Toowoomba Regional Council in 2018 for a seven-storey apartment complex on the site.
Dubbed the Bowery Residences, the plans include 13 two and three-bedroom units and one massive penthouse apartment on the top floor, along with basement parking, pool, gym and office space.
Lead agent Drew Camm said developers were already circling the parcel and attached DA.
“We’ve had a lot of interest from interstate buyers and Brisbane-based people,” he said.
“They have recognised buying a property with a DA is very advantageous, because the long dealings with the council are done.
“Anyone who buys the DA might make some minor changes but all the to-ing and fro-ing is done and all these potential buyers are ready to rock and roll.”
Mr Camm said the unit market in Toowoomba had changed significantly in the six years since the development was approved.
“People are screaming out for the housing market, and I believe it’s going to go well,” he said.
“Where can you live where you’re 2 minutes from the centre of town but still have secure parking?”
Ex-luxury apartments site hits market in East Toowoomba
The offer comes just weeks before land originally slated for a set of luxury apartments overlooking the Toowoomba escarpment also hit the market.
The three parcels on the corner of Tourist Road and James Street, which sit opposite the Range Shopping Centre, had been envisioned as the site of an eight-storey apartment block in 2017 — to be called Verona Apartments.
But the land has now been listed for sale with Place Projects, with a development approval for a six-lot subdivision attached to the listing.
Lead agent Dean Dederer said he still believed there was scope to create apartments on the 2500 sqm parcel.
“I expect we’ll get interest from the southeast corner as well as local developers and builders — it’s just such a rare site,” he said.
“The seller had this idea that anyone could come in and do two-storey dwellings thanks to the subdivision approval (but) I’d really like to see someone do some higher-density apartments.
“I just saw a story about a site at Redland Bay the same size as this and it’s for 82 apartments, so this site could comfortably accommodate 20 to 30 apartments.”
The expressions of interest campaign ends on May 31.
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Originally published as Toowoomba land parcels with attached projects for sale through Place Projects, DC Commercial
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