Toowoomba’s FKG Group buys old Suncorp building in CBD from developer for $10m

Food vans, bars and eateries will be part of the multi-million dollar plans for a CBD property which will be transformed into a mini-precinct with aesthetics not dissimilar to trendy parts of inner-city Brisbane. See the new plans here.

Concept art by Aspect Architecture for 122 Margaret Street in Toowoomba City, which will undergo a $4m redevelopment by FKG Group after it was bought for $10m from Clive Berghofer.

One of Toowoomba’s largest companies will transform a huge office complex in the heart of the CBD into a trendy precinct featuring new eateries, bars and even food vans.

FKG Group has bought the old Suncorp building on the corner of Margaret and Kitchener Streets off developer Clive Berghofer for $10m, with the company to invest another $4m into its renovation and redevelopment.

The major commercial property with 3000 sqm of office space was built for Suncorp in 2002 before it moved to the old Chronicle building recently.

It sits directly opposite Mothers Memorial and has views of Queens Park.

FKG Group’s Markus Eames said along with refreshing the exterior of the massive property, the firm would diversify the food and drink options on the ground floor.

“It’s an acre of land with circa 3000 sqm of office building sitting on the northeast corner of the CBD overlooking Queens Park,” he said.

“One large tenant has taken over the entire facility, outside of a small area where the (former Raw Sugar Cafe) was, and we plan on doing a bit of a food precinct for all the people who work along Kitchener Street.

“What we want to do is give the outside a more Fortitude Valley sort of feel.

“One idea we’re considering is putting two food operators where the cafe is, one would be espresso bar and the other a sushi train or wine bar that could service the working community.

“There is a bit of area where I’d like to put a concrete platform to allow food trucks to come on a rotating basis.”

Concept art by Aspect Architecture for 122 Margaret Street in Toowoomba City, which will undergo a $4m redevelopment by FKG Group after it was bought for $10m from Clive Berghofer.

Mr Eames said the move was to better service a growing contingent of office workers and professionals based along Kitchener Street.

“We look at the CBD and Kitchener Street overlooks the park, so we realise that strip is going to get more attention,” he said.

“We also own a property up near the fire station and we plan to build more office space there.

“It’s investing in areas where we see the CBD as deficient, and large-scale office space is one of those areas.

“We want to help mix it up and create an environment that would make it a meeting hub.”

It is understood a government department will be the main tenant, but Mr Eames would not confirm if this was the case.

Originally published as Toowoomba’s FKG Group buys old Suncorp building in CBD from developer for $10m