Ray White Toowoomba lists ex-Rotary building at Rangeville on market for $1.7m, talks with council over creating units

Developers are already circling an old commercial building overlooking a popular Toowoomba lake, with the view that the site could become a unit development.

FOR SALE: A longstanding commercial building on Perth Street in Rangeville has hit the market, with potential buyers looking at turning it into units overlooking the nearby Lake Annand.

Potential buyers of an old commercial building overlooking a prominent Toowoomba lake are looking at turning the site into units.

Ray White Commercial has listed the old Rotary House property on Perth Street in Rangeville for sale, sporting a price tag of $1.7m.

The two-storey property, which was sold by Rotary about three years ago, has since been used by a not-for-profit organisation.

But lead agent Mark Wynhoven said discussions had begun about converting the site into high-rise units to take advantage of the view of nearby Lake Annand.

“It was sold to an investor/developer and with so much going on, this has come onto the market at the right time,” he said.

“We had this massive oversupply of units a few years ago but Covid has helped deal with that and here we are in a requirement for housing.

“I reckon it would best suit a housing development, it’s still in urban residential zoning and the argument is that the view of the lake is a cracker.”

FOR SALE: A longstanding commercial building on Perth Street in Rangeville has hit the market, with potential buyers looking at turning it into units overlooking the nearby Lake Annand.

Mr Wynhoven said there had already been talks with council about the likelihood of a unit development application getting approved.

“We’ve been live a week and there are a dozen (inquiries) there already, so it is quite positive,” he said.

“It will come down to council allowing that medium-density use and that’s why we had a pre-lodgement meeting.

“Multi-level residential was discussed, four storeys tops.

“It was very well-received, the comments they made is for it to work it would need to be done to fit with the character of the neighbourhood.”