Toowoomba Sizzler site to become Avis rental car location after council approves plan
The final sale price for the former Toowoomba Sizzler restaurant site has been revealed and it’s one of the most expensive for a site in 2021 so far. Details here.
Development
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The future of the old Sizzler restaurant site in Toowoomba has been confirmed, after a developer was approved to turn the large CBD site into an Avis car rental outlet.
Applicant Matt Neilsen, acting for investors Kelsall Pty Ltd, received the green light from the Toowoomba Regional Council to convert the Hume Street location into the new Toowoomba site for the international car rental chain.
The council’s planning department cited just one issue in its information request to the applicant around noise concerns related to the automatic wash bay.
This matter was resolved by the applicant agreeing to remove the blowers from the car wash, which it noted was not for public use.
The final sale price for the property has also been revealed, with the new owners paying $4.5m in one of the most expensive for a Toowoomba commercial site in 2021 so far.
Selling agent Edward Hodge, from Hodge Real Estate, said the deal was a sign of businesses looking to buy sites rather than simply leasing them.
“Businesses that would typically lease properties have become the dominant buyers in the market,” he said.
“Record low interest rates have enabled this and even if there is a modest rate rise in the medium term, I expect the trend will continue for some time.
“There is a clear trend that is showing no signs of stopping and this is prompting owners with vacant buildings to move to selling instead of trying to lease them.”
It comes nearly a year after Sizzler shut its doors, with the once-popular restaurant franchise struggling through the Covid-19 pandemic.
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