Toowoomba, Queensland | Jan. 18, 2024 – Developers are eyeing Queensland’s Darling Downs, especially Toowoomba CBD, as high-end apartment living gains traction.
The market’s appeal grew with new residents and the $2.61 million sale of a five-bedroom penthouse two years ago.
Upsurge in High-End Living in Toowoomba
The latest project is a 10-storey tower in a mixed-use precinct on the historic Gasworks site. Situated at Neil Street and Chalk Drive, the triangular 1.05-hectare site has been vacant for years.
The plan includes 56 apartments over nine residential levels and seven ground-floor retail tenancies.
Another building will host a 4293-square-meter Fresh and Save Food Warehouse supermarket and three retail spaces.
Other Details
The Gasworks site is part of the 51.3-hectare Toowoomba Railway Parklands Priority Development Area.
The gasworks, operating from 1878 to 1960, underwent full remediation. The proposed development is seen as a potential catalyst for growth in the Priority Development Area and Toowoomba’s inner north.
Architected by Buchan, the development features a landscaped linear pedestrian plaza with a reinstated gasworks brick chimney.
The design takes inspiration from the site’s industrial history, incorporating face brick and corrugated iron sheeting. The plaza aims to be a versatile space for meetings and events.
The project includes one to four-bedroom apartments targeting a broad resident demographic.
Local property agent Daniel Burrett, also the Real Estate Institute of Queensland Toowoomba chair, noted population growth as a key driver. He highlighted an influx of people seeking an urban lifestyle and the impact of hybrid work models, allowing remote work in regional areas.
Burrett emphasised Toowoomba’s conservative nature and scarcity of high-end apartments despite the city’s affluence. He mentioned a rising demand for apartment living, evident in recent projects like the seven-storey, 19-unit building filed by FKG Group.
“People are getting pushed out financially from bigger cities like Brisbane and Sydney,” said Burrett. He added that only two residential towers have been built in Toowoomba recently, and developers are cautiously observing market responses before committing to more projects.
The outcome of these developments will influence future high-end apartment projects in Toowoomba.
