Toowoomba’s Saba Building: CBD property with The Finch, Proof BBQ and Booze, Sante Cocktail Bar, Aspect Architects

A property hosting some of the Toowoomba CBD’s most popular and prominent venues has hit the market, with major investors looking to snap it up.

FOR SALE: The Saba Building on Ruthven Street, which features businesses like the Finch and Proof BBQ and Booze, has hit the market through LJ Hooker Toowoomba.

Major investment firms have started circling a prominent property in the Toowoomba CBD that features several top businesses.

The Saba Building, which fronts onto both Ruthven and Duggan Streets in Toowoomba City, has hit the market through an expressions of interest campaign with LJ Hooker.

The Finch cafe and Proof BBQ and Booze front each end of the property, while the site also includes award-winning cocktail bar Sante, top architecture and design firm Aspect Architects and Hallewell Law.

Lead agent Justin Eastwell said the building had a weighted average lease expiry (WALE) of 4.1 years, something that was attractive to investors.

FOR SALE: The Saba Building on Ruthven Street, which features businesses like the Finch and Proof BBQ and Booze, has hit the market through LJ Hooker Toowoomba.

“There is a lack of investment stock particularly in southeast Queensland so a 4.1 year WALE is what investors are looking for,” he said.

“We’ve already had over a dozen inquiries from those larger investment firms.

“The quality of the fit-out will lend itself to getting some strong interest — the cost of construction is limiting buyers looking at development upside, whereas something that is already completed will be attractive to investors.”

FOR SALE: The Saba Building on Ruthven Street, which features businesses like the Finch and Proof BBQ and Booze, has hit the market through LJ Hooker Toowoomba.

Mr Eastwell said the coming months would dictate whether Toowoomba’s commercial market would soften, given the Reserve Bank had just bumped up interest rates again by 0.25 per cent.

The expressions of interest campaign ends on October 28.

FOR SALE: The Saba Building on Ruthven Street, which features businesses like the Finch and Proof BBQ and Booze, has hit the market through LJ Hooker Toowoomba.