Bernoth Properties' Torrington Business Park has sold out, underlining the demand for smaller scale warehouse and hardstand sites throughout Toowoomba.
Agency LJ Hooker Commercial Toowoomba completed the campaign, notching more than $6m in sales over 16 lots, with another two lots leased. Ninety percent of lots were less than 4,000sqm.
The entry level parcels - between 1000sqm and 1013sqm – sold at a median rate of $235psm.
The larger allotments - between 3012sqm and 6125sqm - were sold with a median price of $225psm.
Big Bag Recovery - the Australian Government-accredited large plastic sack and bulk bag stewardship program - has leased the largest site in the business park (6,878sqm), paying $294,000 p.a plus GST over 10 years.
LJ Hooker Commercial Toowoomba Director Chris Stewart said industrial land was being absorbed by businesses capitalising on the public and private infrastructure program underway across the region.
"There continues to be a significant undersupply of industrial land in the area,” said Mr Stewart.
“The Torrington Business Park was the first industrial estate where lots were primarily less than 4,000sqm and it attracted a lot of interest for that reason.”
Construction on the future $1.3bn Toowoomba Hospital – slated to open in the second half of 2027 - has driven demand for warehousing and hardstand sites in the area. There are also 2,000 lots across multiple land estates either under construction or about to start.
“The bulk of purchasers in the business park were occupiers, but there was also a handful of investors from Brisbane and the Gold Coast who have purchased to develop and lease,” said Mr Stewart.
“With the square metre rate around half of what you could pay for premium industrial in some pockets of Brisbane.”
For media enquiries:
Ryan Ellem
M: 0427 916 020 E: rellem@ljhooker.com
About LJ Hooker Group
96 years, 420 offices, 4,300 people, 4 brands
LJ Hooker Group has been pioneering real estate since opening of its first LJ Hooker office in Maroubra, Sydney, in 1928. Since then, it has grown to become a house of brands including two boutique networks - Atlas by LJ Hooker in Australia, and Harveys in New Zealand - and LJ Hooker Commercial, which provides a comprehensive range of commercial real estate services.
Collectively, the LJ Hooker Group comprises one of the largest residential and commercial sales and property management networks, comprising 420 offices and a team of 4,300 sales professionals, property managers, and support staff across the Tasman.
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