The high-profile three-storey property - spanning a sizeable 4,509sqm area across six lots - was previously held by the Queensland Government’s Department of Transport and Main Roads (TMR), and was acquired by Toowoomba-based FKG Group following a competitive Expressions of Interest campaign.
The property was sold by Peter Marks and Brian Doyle from RWC Toowoomba.
Featuring on-site parking and 55 metre frontage onto Toowoomba’s picturesque Queens Park, the site is one of the more enviable commercial assets in the entire CBD.
“This was a complex, high-value sale where process and precision mattered,” said sales and leasing agent Peter Marks.
“We attracted multiple serious bidders due to our structured campaign, targeted buyer engagement and understanding of government sale protocols.”
While the urban sprawl in smaller towns like Toowoomba is an inevitability, the sale comes as confirmation of the old real estate adage of ‘location, location, location’.
“The Phillip Street campaign showcased the value of local knowledge combined with a disciplined sales framework. The property’s potential, location and flexibility made it especially appealing to buyers with a long-term development lens,” said sales and leasing agent Brian Doyle.
The FKG Group, one of Toowoomba’s most established construction and development firms, plans to redevelop the site to align with the city’s infrastructure and economic growth trajectory.
The transaction marks a major step in the Queensland Government’s asset rationalisation strategy and reflects a seamless divestment process from RFQ to final contract.
“This sale represents a meaningful investment into the future of Toowoomba,” Mr Doyle said.
