Colliers is excited to present this rare infill residential development opportunity, 259 - 261 Hursley Road Toowoomba, to the market via Expressions of Interest. This property presents an outstanding opportunity to be part of the Toowoomba growth story within Australia's second largest inland city, approximately 125kms West of the Brisbane CBD. The property will be sold via Expressions of Interest, closing Thursday 24th October 2024 at 4pm.
Strategically located in the major western suburbs' growth corridor of Torrington and with proximity to major road corridors and social infrastructure, the property offers a land development opportunity with scale and flexibility rarely seen in Toowoomba.
This 15.45-hectare site represents a prime opportunity for developers and investors, with an Emerging Communities Zoning, the site offers remarkable versatility for a variety of residential development outcomes. The site's large, infill nature and 'blank canvas' status further enhance its appeal, allowing for the creation of a landmark development in a growing area.
Currently comprising of two (2) titles, this expansive 15.45-hectare site, can be purchased as a single lot or individually by the 10.16-hectare and 5.29-hectare parcels.
Features Include:
- Substantial infill residential development site of 15.45-hectare, with opportunity to purchase entire site or by individual titles of 10.16 hectare and 5.29-hectare land parcels.
- Zoned Emerging Communities providing flexibility for a range of residential development outcomes.
- The site is covered by Temporary Local Planning Instrument (TLPI) which allows for code assessable development as if it was zoned Low Density Residential (STCA).
- Well-designed layout and efficient subdivision concept plan for a 66-lot residential subdivision on the 5.29-hectare site.
- Anticipated yield of circa 200 residential lots across entire site area, complying with current planning guidelines however higher density may be possible, subject to planning advice and council approvals.
- Adjoining land recently approved for Retirement Facility provides further options for a range of uses (STCA).
- The site benefits from two-street-frontages on Hursley Road and Robson-Hursley Road. An existing cost-sharing agreement is in place to share the expense of delivering part of the approved internal collector road.
- Extensive infrastructure readily available at property.
- Booming local and regional economy with diversified growth engines driving development.
- Population forecasts show Toowoomba growing strongly to a population of more than 240,000+ residents in the next 25 years (SEQRP 2023).
- Close proximity to existing social infrastructure including Coles Glenvale & Clifford Gardens Shopping Centre, Glenvale Christian School, Glenvale State School.
The site's 'blank canvas' status allows for creative freedom in the planning and design process. With minimal existing infrastructure constraints, developers have the opportunity to design and implement a development that aligns with their vision and market needs. This flexibility can lead to innovative and standout projects that define the character of the area.
As the community continues to expand, there is an increasing demand for new residential and mixed-use developments. This site is well-positioned to meet this demand and capitalize on the growth trends in the region.
For more information, please contact Exclusive Marketing agents Dan Dwan, Chris O'Driscoll or Brendan Hogan of Colliers.
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