SOLD: A long-term shopping centre in Toowoomba has bought a neighbouring residential block, with the aim of developing it in the future.
SOLD: A long-term shopping centre in Toowoomba has bought a neighbouring residential block, with the aim of developing it in the future.

Toowoomba shopping centre snaps up residential block

A TOOWOOMBA shopping centre has snapped up a neighbouring residential block, with the aim of redeveloping it in the future.

The owner of Southtown Shopping Centre in Centenary Heights bought 43 Hunter St, which backs onto the centre, for $350,000.

Ray White sales and leasing agent Mark Wynhoven said the owner, a local family, were assessing its options in regards to the 1300 sqm property.

Any redevelopment would be subject to an approval from the Toowoomba Regional Council.

"There's a chance of a realignment of the boundaries of the property for a small portion of it to be used for the shopping centre," he said.

"They're certainly the right people to own it and we think any development there will be designed to complement the existing centre.

"We don't know the short and long term future of the property."

Southtown Shopping Centre is the oldest in Toowoomba, according to Ray White, featuring a Spar supermarket and numerous restaurants and specialty stores.