The developer tasked with bringing life to the site of the former Toombul Shopping Centre says it is in the process of selling the property.
Mirvac had said it was looking for partners to help develop the site but today announced it was offloading Toombul to Irvine Property Group, who owns the Rivermakers development in Murarrie and has four other Queensland projects.
“Unfortunately, we’re not in a position to take this redevelopment further on our own at this time,” Mirvac chief executive Campbell Hanan said.
Toombul Shopping Centre was demolished after it was flooded in 2022. Credit: Toombul Redevelopment Community Feedback
The two developers put out a joint media release on Wednesday. The deal is expected to be done and dusted before the end of the year.
Toombul was severely damaged during the 2022 Brisbane floods and never reopened. It was then knocked down by Mirvac in 2024.
When it opened in 1967, it was a Westfield – Brisbane’s first big box shopping centre.
Provided the sale goes through, Irvine will step in with the goal of building a mixed-use residential and shopping project, something Brisbane City Council has previously expressed interest in.
“Our priority is to deliver a new shopping centre as the first stage of a retail-led mixed-use development which is in line with Mirvac’s draft masterplan which has council’s in-principle support,” Irvine Group’s managing director Michael Irvine said.
Hanan said Mirvac had reached agreements with council about “critical issues” like traffic, building heights and flood solutions.
Once the sale is official, any plans Irvine has for the property will be subject to the council’s development application process, including community consultation.
Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter.
Most Viewed in National
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: www.smh.com.au
