Ruthven Street, Toowoomba City property for sale through Ray White Commercial

A three-storey Toowoomba CBD property has been listed for sale, at a time when the city centre is more frequently attracting seven-figure offers for commercial buildings.

A former bank near the centre of the Toowoomba CBD has hit the market for the first time in more than 15 years.

Ray White Commercial has listed the two-storey brick property on Ruthven Street in Toowoomba City, which was the former Suncorp Metway bank branch, for an expressions of interest campaign.

If sold, it would be the first time the building has changed hands since 2006 when it was snapped up by a pair of local families.

A 470 sqm commercial building on Ruthven Street in Toowoomba City has hit the market through Ray White Commercial.

The 470sq m property, which includes eight offices, a kitchen, airconditioning and three car parks, most recently housed MacDonald Law but is now vacant.

According to agent Peter Marks, the sale has attracted plenty of local interest.

“We’ve had just under 20 calls and two of them were outside of the region — the majority were in Toowoomba, so there’s been a lot of interest,” he said.

“The inquiries have been interesting, I would’ve thought it would suit an owner-operator but others are looking at it for an investment opportunity.”

According to Ray White’s online listing, the property has a “versatility” that could suit a number of owners.

“It is situated in the centre of the CBD, surrounded by Heritage Bank and Rowes, along with many other new and long-term businesses,” the listing said.

“The building will provide the opportunity for either offices or retail with offices, with the opportunity to redesign as required.

“Considered an impressive building when it was first built, it still retains its uniqueness and versatility.”

A 470 sqm commercial building on Ruthven Street in Toowoomba City has hit the market through Ray White Commercial.

The Toowoomba CBD has enjoyed a number of high-priced sales over the past two years, including the $6.6m sale of the Pigott’s building just a few doors up from this listing.

Other significant transactions include 217 Margaret Street ($2.045m) and the old Suncorp building on the corner of Kitchener and Margaret Streets ($10m).

The expressions of interest campaign ends on June 2.