Who bought one of Toowoomba's tallest buildings for $10.5m

UPDATE: A MAJOR Toowoomba developer has bought one of the city’s tallest buildings for a whopping $10.5 million.

10 Russell Street, Toowoomba. Picture: Contributed

UPDATE: A MAJOR Toowoomba developer has bought one of the city's tallest buildings for a whopping $10.5 million.

Gabbinbar Homestead owner Barry Bernoth has been revealed as the purchaser of the Easternwell Centre on Russell St in the CBD, more than 18 months after it hit the market.  

Knight Frank agent Adam Willmore, who secured the sale with Christian Sandstrom, said he was amazed at the level of interest from interstate investors.  

"We believed that the majority of interested parties would be either Toowoomba or Brisbane based however we were pleasantly surprised by the genuine interest from interstate buyers in the Toowoomba office market."  

"The building is one of the largest commercial assets in town and occupies a prominent position in the heart of the Toowoomba Central Business District so it was a well-known asset in the area." 

The building comprises of more than 7000sq m of lettable space and more than 100 undercover and outside car parks. 

The property was bought by commercial building manager Quadra Pacific in 1995 for $6.8 million.

The Chronicle has attempted to contact Mr Bernoth.

EARLIER: A TOWERING building in the Toowoomba CBD's skyline has finally sold for a whopping $10.5 million, after a sales period stretching back more than 18 months.

The sale of the Easternwell building on Russell St was confirmed this week by agency Knight Frank.

It first hit the market in late 2017 through an expressions of interest campaign.

The building, which stretches nine storeys in the air, comprises of more than 7000sq m of lettable space and more than 100 undercover and outside car parks.

According to RP Data, the property was bought by commercial building manager Quadra Pacific in 1995 for $6.8 million.

Agents for Knight Frank were contacted for comment.

Originally published as Who bought one of Toowoomba's tallest buildings for $10.5m