10 biggest Toowoomba CBD commercial property sales in past year and who bought them

The most lucrative property sale in the CBD over the past year was a major childcare centre - and the new owner might surprise you. See a list of the biggest transactions in the last 12 months.

The biggest Toowoomba CBD sales over the past 12 months.

Toowoomba’s exploding property market is no secret to buyers, sellers and agents right now, with both residential and commercial sales attracting significant interest and big bucks.

Nowhere is this more present than sales within the Toowoomba CBD, which has seen some incredible transactions over the past 12 months.

The past year has seen 22 sales for $1m or more, totalling $59.15m.

This is significantly up from the same period (April 2020 to April 2021), where just 13 transactions were made above that threshold for a combined $29.8m.

Notable structures, including the historic Piggott’s building and the old Sizzler restaurant, were also part of the bonanza.

Here are the 10 biggest sales in the Toowoomba over the past year, according to RP Data:

The Kids Club Toowoomba childcare centre on Margaret Street sold to Australian Unity through LJ Hooker for $7m in October 2021.

1. 260 MARGARET STREET – $7M

Acquired by Australian Unity as part of a $15m deal, this property features one of the region’s Kids Club Child Care centre on Marget Street.

While RP Data lists the sale as $5.7m, selling agent Chris Stewart from LJ Hooker confirmed an extra $1.3m was held over as part of plans to upgrade the property.

The sale continues the strong demand for childcare centres as solid investment properties.

SOLD: The heritage-listed Pigotts Building in the Toowoomba CBD sold to an interstate developer, which plans to invest tens of millions into the property.

2. 381 RUTHVEN STREET – $6.6M

Residents would easily recognise the famous Pigotts building on Ruthven Street, which has been part of the CBD's skyline for more than 100 years.

Furniture chain Super A-Mart founder John Van Lieshout, who is regularly listed as Queensland’s wealthiest man with an estimated net worth of nearly $2.5bn last year, sold the property to Melbourne-based consortium Oxford Capital Pty Ltd in July last year.

It is understood the developer plans to turn the site into a luxury hotel and accommodation provider.

SOLD: 267A Margaret Street in Toowoomba City sold through Colliers International for $5.2m in December 2021.

3. 276A MARGARET STREET – $5.2M

Sitting on the corner of Margaret and Victoria Streets, this property features national tenant the Coffee Club, as well as Workwear Discounts and two other tenancies.

Colliers International Toowoomba secured the sale in December last year for $5.2m.

According to company documents, the new owners are local couple Graham and Judith Bodkin.

The Caltex service station at 282 Ruthven St, Toowoomba.

4. 282 RUTHVEN STREET – $4.8M

The former Caltex service station in the Toowoomba CBD is one of the only refuelling points left in the city’s centre, making it lucrative for investors.

Buyer Billco Pty Ltd snapped up the property for $4.8m through Re/Max in August last year.

Agent Deepen Khagram told The Chronicle at the time the Caltex would be rebranded as Ampol as part of a national rebadging in the near future.

The site is currently leased until 2026, with two five-year options in place.

Old Sizzler site in James St. Picture: Nev Madsen.

5. 159 JAMES STREET – $4.5M

Once the home of cheese toast and unlimited buffets, the old Sizzler restaurant has now been converted into car rental company Avis' new Toowoomba pick-up point.

This was facilitated by a sale last year through Hodge Real Estate, worth approximately $4.5m.

A spokeswoman for Avis said last month the company was already employing dozens of people as it continued the fit-out.

“The Avis Toowoomba site is now open and will be fully complete by June 2022,” the statement said.

The old gasworks site on Neil St in Toowoomba City has sold to a Sydney businessman.

6. 1A NEIL STREET – $3.96M

One of the last major plots of vacant land left in the CBD is the old gasworks site on Neil Street, but some traction appears to be occurring there.

The land was finally sold late last year, after numerous false starts, to Sydney businessman Gerard Hanna late last year for $3.96m, the first time it has changed hands since 2003.

It had been for sale over several years until Colliers International sealed the deal, with negotiations held with the Toowoomba Regional Council over what could be a desirable development at the site.

Colliers managing director Dan Dwan said he was confident a proposal would make its way to the council in due course.

The National Tiles and Carpet Court building on James Street in Toowoomba sold in August 2021 through Ray White Commercial for $3.125m.

7. 215 JAMES STREET – $3.125M

Ray White Commercial secured the sale of the National Tiles and Carpet Court building on James Street in August last year.

The sale price of $3.125m is significantly up from the previous transaction in 2019 of $2.525m.

The new owner is Sunshine Coast-based eye doctor Hamish McKee, according to ASIC documents.

96 Neil Street in Toowoomba City sold in February 2022 through LJ Hooker for $3.05m.

8. 96 NEIL STREET – $3.05M

Selling in October last year through LJ Hooker Toowoomba for a pretty penny, this property on Neil Street houses National Dental Care.

ASIC documents have revealed the owner of the property as Brisbane-based businessman Nelson Yuan-Wen Chuang.

Former McDonald's Toowoomba franchisee and developer Keith Beer has bought the old James Neil Medical Centre on the fringe of the CBD, following a protracted negotiation period.

9. 177 JAMES STREET – $2.12M

Major Toowoomba developer and former Macca’s king Keith Beer bought the old James Neil Medical centre and its attached car park on the fringe of the Toowoomba CBD in February for $2.12m.

The purchase through Colliers International comes after a protracted negotiation process that started about six months ago, but Mr Beer said he was excited by the potential of the site.

“We’ve got no plans, so we’ll find something to go in there,” he said.

152 Margaret Street in Toowoomba sold through LJ Hooker in April 2021 for $1.85m.

10. 152 MARGARET STREET – $1.855M

The old T and L property, also known as the Groom and Lavers building, sold in April last year through LJ Hooker Toowoomba for just shy of $2m.

National charity Australian Red Cross announced it was moving its entire local operations into the building around the same time.

Red Cross regional manager Charlene Keller said the goal of the move was to consolidate the charity’s various services and staff under one roof, in a location that was convenient for clients.