Toowoomba’s Walton Stores listed for sale through expressions of interest campaign by Colliers

One of Toowoomba’s top foodie districts has hit the market, with the asset reportedly in a better position to find a buyer than when it was listed for sale two years ago. Here’s why:

Toowoomba’s most prominent foodie precinct has hit the market, with the massive parcel in the CBD expected to sell for millions.

Walton Stores, which includes notable eateries like Hello Harry, Bergen, Rashays, Tailgate Sports Bar and Bodega, has been listed for sale through Colliers Toowoomba.

The 4800sq m site includes 3500sq m of floor space across three properties and 18 separate tenancies.

Anchored by the Westpac bank branch, the precinct enjoys a net income of $1.5m and has a weighted average lease expiry of nearly six years.

Dining and entertainment precinct Walton Stores in the Toowoomba CBD has been listed for sale through Colliers.

Walton Stores has developed a reputation as one of Toowoomba’s top dining and entertainment quarters since it was built by Newlands Group’s Barry O’Sullivan more than five years ago.

Project manager Tim Smith said the asset was even more complete now than it was when it was offered to market two years ago.

“It was always a development project (to be sold), and it’s even more so now,” he said.

“We think the development is more fully finished, we’ve got new tenants so we’re confident of a good outcome.

“It will be up to the market, but we think the asset is finished off.”

Dining and entertainment precinct Walton Stores in the Toowoomba CBD has been listed for sale through Colliers.

Colliers managing director Dan Dwan said Walton Stores was an even better product than it was in 2021, arguing it would be attractive to investors looking for a stable asset.

“The market is still pretty diverse in terms of activity, but the stability of the Toowoomba market and the economic outlook is really good,” he said.

“It was marketed a few years ago but this has been developed through to the point that it becomes a hassle-free process for a new investor.

“The existing tenants have reached terms so there’s greater stability and no need for a new owner to go through a refurb or value-add process.”

Walton Stores picked up several awards for its design when it was first built, including the regional project of the year award in 2017 by the Australian Institute of Architects.

Dining and entertainment precinct Walton Stores in the Toowoomba CBD has been listed for sale through Colliers.