Hodge Holdings to offload monster Toowoomba site

The largest approved residential development site in Toowoomba, which is poised for substantial population growth, is being offered for sale.

Hodge Holdings won the right to develop the 42ha site in the suburb of Torrington into a mixed-use development with potential for more than 600 dwellings in December last year, after a significant court battle.

But it has now placed the site on the market via an expressions of interest campaign.

The site already has approvals in place for the first 79 residential allotments, as well as a master plan approval for residential, retirement, aged care and manufactured housing development on the remaining land.

Colliers International’s Brendan Hogan and Chris O’Driscoll are marketing the landholding, with Hogan touting the site as a ready-made opportunity for developers.

“This opportunity is ideally positioned for developers and investors seeking a strategic holding in one of Australia’s fastest growing regions with approvals already in place,” he says.

The 42.2ha landholding is positioned across two titles at 229 Hursley Rd and 6 Hillman St in Torrington, 7km west of Toowoomba’s city centre.

The Toowoomba site is spread over 42ha.

The site is at the heart of the growth corridor that stretches from Toowoomba’s CBD to the new $300 million Brisbane West Wellcamp Airport, and has hospitals and major retail centres in close proximity, including Clifford Gardens, which was recently purchased by Blackstone for almost $200 million.

“The proposed Glenvale Shopping Centre is also within walking distance of the site and is further supported by a new Coles supermarket that is within a short drive of the property,” Hogan says.

“Toowoomba is Australia’s second largest inland city to the nation’s capital Canberra and is set for substantial growth, with the population forecast to increase 37% by 2036, according to ABS.

This opportunity is ideally positioned for developers and investors seeking a strategic holding in one of Australia’s fastest growing regions

“The Queensland State Government and Australian Government, with private enterprise, have recognised the strategic importance of this burgeoning city and there is now more than $10 billion worth of investment across the Toowoomba region.”

“Other landmark infrastructure projects include the Australian Government’s largest single funding commitment to a road project in Queensland, known as the Toowoomba Second Range Crossing,” O’Driscoll adds.

“This is now under construction, with a total estimated cost of $1.6 billion.”

“Importantly, the government’s proposed Inland Rail route linking nearby Brisbane to Melbourne, via Toowoomba, will place Toowoomba as a strategic intermodal inland port for Australia.”