Toowoomba CBD site on James Street, Whitley’s Welding Works, hits market through Colliers International

A longstanding parcel of land along one of Toowoomba’s busiest streets is back on the market, with a view of transforming the site into a mixed-use development.

FOR SALE: A large industrial, retail and residential property on James Street in the Toowoomba CBD could be converted into a new mixed-use development.

A legacy site in the Toowoomba CBD featuring industrial, retail and residential properties looks set to be transformed into a modern mixed-use development if it is sold in the coming weeks.

Colliers International has listed the 2400 sqm collection of buildings on James Street for sale through an expressions of interest campaign.

The L-shaped offering, which has access from the front and the back via Wylie Street, includes the longstanding Whitley’s Welding Works along with retail shops and even two residential units on the top floors.

Lead agent Mike Turley said while the new buyer could continue operations as usual, the site offered a variety of development opportunities.

“The only limit is a developer’s imagination — you’ll see a shift away from the industrial operations at that site and there’s been more of a shift towards retail,” he said.

“There is still some upside there, someone could definitely do some refurbishments and increase the income level but I’m still of the opinion it’s a full redevelopment of the site.

“There’s been a strong level of inquiry, some local developers and out-of-towners looking at it too, so fairly strong.

“The only thing I wouldn’t rule out is a multi-level parking complex, you could have something where they enter and exit off Wylie Street.”

FOR SALE: A large industrial, retail and residential property on James Street in the Toowoomba CBD could be converted into a new mixed-use development.

It comes after two mixed-use developments, featuring commercial and residential tenancies, on Mylne Street were approved by the Toowoomba Regional Council within the past year.

The council has expressed interest in promoting more inner-city living developments, including shop-top living.

Mr Turley said the site had been on the market for some time, but the new listing included an extra lot at the rear which opened up use to include Wylie Street.

The expressions of interest period ends on March 22 at 4pm.