‘New York-style’ CBD property attracts investors

A RECENTLY-renovated office building in the Toowoomba CBD has hit the market, with interstate investors already circling.

FOR SALE: LJ Hooker's Markus Eames and Dan Cullinane stand inside 300 Ruthven St, Toowoomba City.

A RECENTLY-renovated office building in the Toowoomba CBD has hit the market, with interstate investors already circling.

LJ Hooker has listed the property on Ruthven St, opposite the Mills Precinct.

The site is the national headquarters for the Wideland Group, which has a broad business portfolio across Australia that includes car, truck and agricultural machinery sales.

Agent Markus Eames said the renovation quality, which resembled office spaces in Melbourne or New York, was already earning interest.

"It's tenanted for five years at $100,000 a year, and the tenant pays all outgoings," he said.

"It's pretty rare that we get an asset that ticks all the boxes.

"We're actually getting inquiries from Sydney and Melbourne, and people are making decisions based on us walking around and showing them the property via video links."

Mr Eames said he expected the property to sell for seven figures, given the low interest rates and asset quality.

"The market is strong for investment properties in this sort of price range," he said.

"You don't have to work the business, you just take advantage of the low interest rates."

For more information, call Markus Eames on 0407 388 856 or Dan Cullinane on 0431 278 806.

300 Ruthven St in Toowoomba City is for sale through LJ Hooker.

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