Toowoomba’s Jeffreys Motel in Kearneys Spring hits market through Colliers, Ray White Highfields

A three-star Toowoomba motel’s entry on the market has sparked a flurry of inquiries from developers and investors for a “unique” reason, according to agents.

Jeffery's Motel on Ruthven Street in Kearneys Spring has been listed for sale through Colliers Toowoomba, with the two-hectare site attracting numerous inquiries from investors and developers.

A Toowoomba motel on a huge parcel of land in the city’s southern suburbs has caused a flurry of interest from potential buyers and developers after hitting the market.

Jeffery’s Motel in Kearneys Spring has been listed for sale for the first time in more than 30 years, in a campaign by Colliers Toowoomba and Ray White Highfields.

The motel, which features 43 rooms and 49 powered caravan sites at the rear, has been with the same management team for 16 years and enjoys strong turnover.

But Colliers managing director Dan Dwan said the property’s unique quality that had attracted so much interest was its size and current zoning with the Toowoomba Regional Council’s planning scheme.

Jeffery's Motel on Ruthven Street in Kearneys Spring has been listed for sale through Colliers Toowoomba, with the two-hectare site attracting numerous inquiries from investors and developers.

“There are 43 rooms plus the caravan park at the rear which has got I think about 44 permanent residents or semipermanent residents in situ,” he said.

“But the unique part of this asset is it’s actually on a 2ha parcel of land which is zoned for major centres, which obviously gives you a higher-order opportunity for development either more immediately particularly with the vacant land component or something down the track.

“There’s an opportunity for someone to pick this up as a going concern, walk in and pick up where the current owners have left off but it certainly provides a great development opportunity with some of the vacant land component or some further development of the rear of the site.

“There’s been extensive inquiry, overwhelming inquiry to be honest, to the point I haven’t been able to actually cover a lot of the people that have actually inquired and it’s been my sole focus over the past couple of weeks.”

Jeffery's Motel on Ruthven Street in Kearneys Spring has been listed for sale through Colliers Toowoomba, with the two-hectare site attracting numerous inquiries from investors and developers.

Mr Dwan said the site was suited to future higher-density residential uses, given its proximity to essential services at the Toowoomba Plaza and location on a main arterial.

“It allows for density to six storeys, so given where it is and given the state of the market, particularly from the residential point of view, we’re seeing a lot of interest in it as a going motel but also from the point of view of actually being able to provide high density residential uses across the site,” he said.

“The accommodation play in Toowoomba, particularly off the back of announcements around the Olympics, certainly has highlighted some forward demand as far as where that may surge in years to come and the activity that will generate.

“It’s not very often that a motel of this size and opportunity presents to the market and I think certainly the level of inquiry underpins the opportunity and the comfort that people see in this Toowoomba market.”

The expressions of interest campaign technically ends on May 22, but Mr Dwan said it would likely be extended given the volume of inquiries.