New South Wales businessman considers shop top conversion after purchase of Toowoomba CBD property for $750k
A Toowoomba CBD property has been bought by a New South Wales businessman, who is reportedly considering converting the top floors into residential units.
Development
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The Toowoomba Regional Council’s new shop top living guidelines could be put to use soon, after a three-storey CBD property was sold with the intent to possibly develop the upper floors into residential living.
The vacant commercial space on Margaret St was snapped up by a New South Wales businessman for $750,000, following a join campaign by Colliers International and Queensland Hot Property.
QHP agent Leon Carlile said the new owner planned to install a “food services” business on the ground floor but was considering turning the upper levels into his personal accommodation.
“We’ve been working with this client for six months,” he said.
“He’s got a business in NSW (and) just wants to live in Toowoomba.
“The major drawcard was to put his kids through school.”
It comes just a week after the council endorsed a set of guidelines to “demystify” the process of turning vacant office space in the CBD into units.
Toowoomba has a low percentage of its population living in its CBD when compared with other major regional centres across Australia.
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