This article is from the Australian Property Journal archive
CONSOLIDATED Properties has bought a 26 ha residential development site at Toowoomba in southern Queensland, which has been earmarked for a $50 million project.
Don O’Rorke’s Consolidated Properties the site from local developer, politician and philanthropist Clive Berghofer for $4.5 million.
Berghofer AM OAM is a former Toowoomba Mayor, State MLA for the seat of Toowoomba South and is ranked at 146 in this year’s BRW list of Australia’s 200 richest people with an estimated wealth of $300 million.
Consolidated project partners and long time Toowoomba residents Robin Hodge and son Edward will oversee the development and have appointed PRDnationwide Toowoomba as marketing agent for the project.
Consolidated will spend the next several months finalising plans for a land subdivision and seeking construction approvals from Toowoomba Regional Council, with a view to a sales launch in October.
Consolidated Properties managing director Don O’Rorke said the opportunity to purchase the Wilsonton subdivision site, which had been in Berghofer’s ownership for more than 10 years, was too good to pass up.
“Toowoomba is Australia’s second largest inland city and right now is one of the major growth centres of the nation.
“It’s a hub for the agricultural and mining sectors, as well as education and regional government. The city has one of the strongest residential markets in the country. And it is chronically undersupplied,” he added.
Toowoomba Regional Council general manager of planning and development Stewart Somers said the Council and Consolidated Properties have an opportunity to deliver a positive outcome on a strategic parcel of fully serviced residential land.
“This project is very important in helping to overcome the supply shortage of residential land in Toowoomba,” Somers said.
Property Review
