Triple sale continues Toowoomba transformation
Three iconic Toowoomba buildings have changed hands as the regional hub prepares for a new wave of development.
The ‘Longs Building’ on Margaret St, as well as nearby 183-187 Margaret St and 103-107 Russell St, sold for a combined $6 million, with agents expecting them to be redeveloped in the coming years.
Zoned for retail and commercial uses and only metres from the $600 million QIC development, the historic ‘Longs Building’ hadn’t been offered to the market in more than a century.
Commercial Insights: Subscribe to receive the latest news and updates
Spanning three levels and with 26m of street frontage to Margaret St and 43m of frontage to Chronicle Lane, the building includes 47 sealed car parking spaces
Colliers International’s Justin Eastwell facilitated the deals, and says the three buildings present a wealth of choice for their new owners.
Toowoomba’s ‘Longs Building’ has sold for the first time in more than 100 years.
“With a combined area of over 3900 square meters across the three properties, and being zoned for both retail and commercial use, they lend themselves to a myriad of possibilities for new owners to impress the community and further enhance the appeal of the city centre to tourists and locals alike,” he says.
Eastwell says Toowoomba continues to generate interest from investors as it further establishes itself as an economic stronghold.
“The region is experiencing an unprecedented level of investment across a number of key sectors resulting in over $13 billion set to be injected into our local economy,” he says.
“There are simply too many opportunities for investors to not consider Toowoomba as an economic hub in Queensland.”
