Toowoomba CBD-fringe office space on Kitchener Street hits market through LJ Hooker

A property near the Toowoomba CBD could join a recent real estate bonanza worth more than $14m so far.

Investors are already eyeing off a large commercial property on the fringe of the Toowoomba CBD, on a street that has already seen more than $14m worth of sales in recent months.

LJ Hooker Commercial has listed the 1000sq m block on the corner of Kitchener and Clopton streets in East Toowoomba for sale through an expressions of interest campaign.

The site, formally the home of Shine Lawyers, overlooks Mothers’ Memorial and Queens Park and is just metres from Hume St.

A two-storey commercial building on the corner of Kitchener and Clopton streets in East Toowoomba has been listed for sale through LJ Hooker Commercial.

But more importantly, Kitchener St between Clopton and Margaret has seen two significant commercial sales that agents believe could guide price on the corner site.

National construction firm Hutchinson Builders will move its 60-strong workforce to the former Namoi Cotton building next door, after purchasing it for upwards of $4m earlier this year.

That came just a few months after FKG Group paid Clive Berghofer $10m to buy the old Suncorp building on the corner of Kitchener and Margaret streets in November, with the intent of revamping it for more than $4m.

A two-storey commercial building on the corner of Kitchener and Clopton streets in East Toowoomba has been listed for sale through LJ Hooker Commercial.

LJ Hooker’s Chris Stewart said the two-storey ex-Shine Lawyers building with 650sq m of office space hadn’t been sold or leased in a decade, noting it would likely need a facelift.

“We’re early into the campaign but the building is in good nick,” he said.

“I think you’ve got to revitalise it but if the big costs aren’t there it’s about giving it a facelift.

“You’ve got 1088sq m of land in East Toowoomba, opposite Mothers’ Memorial.

“The quickest option is office space, the current tenant (the Department of Transport and Main Roads) leaves in June so there’s an opportunity to get some income and look at your options from there.

“It’s got two access point so you could subdivide, there are a number of things you could do.”