Large parcel with North Toowoomba homes hits market through Ray White Commercial

Several Toowoomba homes could be sold at once, after a large parcel of land north of the CBD hit the market through Ray White.

FOR SALE: A large parcel of residential land, featuring several properties close to the centre of Toowoomba, has hit the market.

A collection of six residential and commercial homes just north of the Toowoomba CBD have hit the market all at once as part of package deal.

Ray White Commercial Queensland last week listed the eight individual lots on Ruthven Street in North Toowoomba, which make up more than 3200 sqm of land, for sale through an expressions of interest campaign.

The sale includes five homes and another property featuring a second-hand store, with the lots facing onto Ruthven Street and Gordon Street to the rear.

It’s understood none of the properties have long-term leases attached.

The parcel is just north of Bunnings Warehouse and a nearby 7-Eleven service station.

Commercial sales executive David Atkinson said the property was owned by a Toowoomba family.

“It’s one family, two brothers and a sister — it’s time for them to move on, so hopefully we can get something sorted for them because It’s a great piece of land,” he said.

Mr Atkinson said the sale offer was already attracting significant interest from potential buyers.

“It’s not surprising, it’s a great block and in proximity to Bunnings and the Royal Hotel,” he said.

“You could keep the houses and definitely provide some holding income or you could knock them over and build some townhouses,” he said.

“There are also options for building special care facilities in aged or disability care.”

Co-lead agent Michael McCullagh said the property would suit a range of buyers including private investors, developers, and local property stakeholders.

“The median property price in North Toowoomba for houses over the last year is $385,000,” he said.

“For investors, houses in North Toowoomba rent out for an average of $360 per week with an annual rental yield of 4.9 per cent.”

The expressions of interest period ends on February 24.