CBD properties owned by Toowoomba businessman, investor Roy Brook heads to auction through Ray White Gold Coast

A well-known Toowoomba property owner has put two major assets up for auction, with the sites attracting interest from very different potential buyers.

The Fantastic Furniture complex on Bridge Street and the old McConachie Stedman building on Ruthven Street, both in Toowoomba City, will be going to auction after being listed by Ray White Commercial Gold Coast.

A pair of prominent commercial properties on either ends of the Toowoomba CBD owned by a local businessman will head to auction next month.

Ray White Commercial Gold Coast is handling the sales of the old McConachie Stedman building on Ruthven Street in Toowoomba City and the Fantastic Furniture complex on Bridge Street in North Toowoomba on July 4, with the auction to attract both local and interstate buyers.

The Fantastic Furniture complex on Bridge Street in Toowoomba City, which includes Allstar Gymnastics as a tenant, will be going to auction after being listed by Ray White Commercial Gold Coast.

While the 1300 sqm three-storey CBD office space is currently vacant, the one-hectare warehouse site features leases for both Fantastic Furniture and Allstar Gymnastics until 2034.

Roy Brook, 2012. Photo Nev Madsen / The Chronicle

A search on RP Data reveals the owner of the properties as well-known Toowoomba businessman Roy Brook, who holds a range of commercial sites across the region and owned the old Mort Estate Hotel and the Centrepoint on James shopping precinct in the past.

Ray White’s Thomas Clark, who is handling the sale with Joey Ho, said the sale was being proffered by the owner as part of a family arrangement.

“He is a local, the story is the current owner is 90 years old, and his desire is to sell his assets for his children,” he said.

“We’re very confident (in a sale), the seller is motivated and the assets (are) very enticing, so it’s exciting.”

Mr Clark said the properties were attracting different buyers, with large firms eyeing off the Fantastic Furniture site while owner-occupiers scout out the newly renovated former accountancy firm.

“We’ve had interest from funds, from a lot of private investors (for Fantastic) — there’s a family that is looking to spend $80m (on property) and we’ve got interest from parties that run big logistics companies,” he said.

The old McConachie Stedman building on Ruthven Street in Toowoomba City, which is currently vacant, will be going to auction after being listed by Ray White Commercial Gold Coast.

“With the CBD site, you’ve got double the land (with the attached car park) and we’re talking to a few companies that are looking at secondary locations or relocations, both locally and statewide.

“They’ve done a full internal renovation, new carpets and paint.”

The auction will be held at the Gold Coast Turf Club, Bundal.