A prominent North Toowoomba development site has hit the market providing investors with the opportunity to snap up a piece of the city’s main street.
Located at 207-213A Ruthven Street, North Toowoomba, the site comprises 3,238sqm over eight existing lots being sold in one line.
The property is being marketed by Ray White Commercial QLD agents David Atkinson and Michael McCullagh.
Just 1.4km from the Toowoomba CBD, Mr Atkinson said the property presents a wide range of potential development options.
“The property at 207-213A Ruthven Street is a well positioned development site in the heart of North Toowoomba,” he said.
“Ruthven Street is often referred to as Toowoomba’s main street and the site’s 3,238sqm size provides a unique opportunity.
“The site’s 72m of street frontage offers exposure to more than 29,000 cars passing daily.
“Notably, the property is located within walking distance to Bunnings, Northpoint Shopping Centre, and the Royal Hotel.”
Mr McCullagh said the property would suit a range of buyers including private investors, developers, and local property stakeholders.
“The median property price in North Toowoomba for houses over the last year is $385,000,” he said.
“For investors, houses in North Toowoomba rent out for an average of $360 per week with an annual rental yield of 4.9 per cent.”
The property is being offered for sale via expressions of interest closing February 24.