Toowoomba’s Fiveways Hotel for sale through Ray White as developers eye property

Developers are already eyeing off a historic pub in Toowoomba’s northern suburbs, after it was listed for sale in a major land package offer.

FOR SALE: The Fiveways Hotel on West Street in North Toowoomba has hit the market through Ray White, in a package offering that includes two neighbouring residential properties.

A historic pub in Toowoomba’s northern suburbs has hit the market, in a major offer that has developers interested in redeveloping the site.

The Fiveways Hotel on the corner of West and Mort Streets has been listed for sale through Ray White Toowoomba, along with two other residential properties in a freehold offer.

The total land package is worth more than 4300 sqm and includes the hotel, a drive-through bottle shop, vacant space used for carparking and the two tenanted homes to the south and east of the pub.

It comes less than two years after publican Michael McDonald took control of the venue and reopened it during the Covid-19 pandemic.

Ray White’s Geoff Percy said a buyer could keep the current leasers to invest in a full redevelopment.

“If someone wants the freehold and leasehold, (Mr McDonald will) sell the lease — he’s doing all right, but if someone wants to take it over they can,” he said.

“It’s a big block of land and we’ve had interest from local developers already.

“It would be 12 months to get the DA lodged and approved, there’s a passive income now so developers could just buy it and sit on it.”

FOR SALE: The Fiveways Hotel on West Street in North Toowoomba has hit the market through Ray White, in a package offering that includes two neighbouring residential properties.

Mr Percy said he believed the pub was unlikely to be redeveloped or removed, saying it was still a strong earner.

“The pub will remain, it’s a good thing because it’s got gaming, but there’s potential to build development on the vacant land, like motels and accommodation.

“That’s a busy street, so you’ve got the potential to do plenty, but I think the hotel is a valuable part of the puzzle, so you could build around it.”

The expressions of interest period ends on June 30.