Investors circle Toowoomba CBD’s Pigott’s Building after hitting market through Colliers International

Investors are expected to inquire about one of the Toowoomba CBD’s most iconic properties, after it hit the market for the first time in 30 years.

FOR SALE: The heritage-listed Pigotts building on Ruthven Street, which used to house Amart furniture store, has hit the market through Colliers International.

One of the Toowoomba CBD’s most notable heritage-listed buildings has hit the market for the first time in 30 years.

The old Pigott’s Building has been listed through an expressions of interest campaign by Colliers International.

Built in 1910 by iconic architect James Marks, the property was the home of the Pigott’s Department Store and underwent several expansions until the 1980s, when it was leased to McDonnell and East.

According to the Queensland Heritage Register, the oldest part of the building is the southeast corner facing Ruthven Street, with subsequent extensions made to the west and the north.

Furniture store Super Amart was the most recent occupant, vacating a few years ago.

FOR SALE: The heritage-listed Pigotts building on Ruthven Street, which used to house Amart furniture store, has hit the market through Colliers International.

Agent Justin Eastwell said the multistorey property featured 6200 sqm of gross floor area and two-street access.

“I actually think we’ll get quite a lot of interest, given it’s a larger parcel in the CBD,” he said.

“It’s a state heritage-building, but I don’t think that’s going to cause issues for developers.

“There are 45 carparking spaces at the back, and you could put up to 10 storeys on there with units or short-term accommodation.”

The Toowoomba Regional Council has incentives policies in place for more unit and short-stay developments in the city centre.

The property was last sold in 1992.

The expressions of interest campaign ends on June 24.

For more details, call Justin Eastwell on 0408 458 014 or Dan Dwan on 0488 799 229.