Toowoomba Gasworks CBD site back under contract through Colliers International

Just two months ago it looked like a major vacant Toowoomba CBD site would remain unoccupied after a deal fell through. Now a new buyer has stepped into the picture.

The old gasworks site on Neil St in Toowoomba City is back under contract through Colliers International.

One of the Toowoomba CBD’s last remaining vacant lots has gone back under contract, just months after the previous deal fell through due to a “disconnect” with the council.

Colliers International confirmed an “out-of-town developer” had snapped up the old Toowoomba Gasworks site on Neil Street.

It comes after the previous buyer, who put it under contract in October last year, eventually walked away from the property.

Issues had reportedly surfaced due to the Toowoomba Regional Council and the State Government’s desire to see a mixed-use development at the site, including residential offerings.

The gasworks is part of the Railway Parklands priority development area, a 50-hectare precinct covered by a special state government planning framework and administered by the council.

In contrast, the party was reportedly looking at a more retail-focused development based around a national company.

Colliers managing director Dan Dwan said he was cautiously optimistic with the current buyer.

“It is under contract again, it’s still subject to terms right now,” he said.

“It’s the fourth time around, so we’ll see what happens.

“It’s an out-of-town developer that has control of it this time, so we’ll see what the outcome will be.”

Toowoomba mayor Paul Antonio had said the council wanted to see a development at the gasworks that was closer to the revamp of the Knights Laundry building next door.

“Ideally, council would like to see any future development on the gasworks site and surrounding area complement the surrounding developments to create a strong identity for the area,” he said.