Historic Toowong home sold for $5.3 million to childcare centre operator

Historic Toowong home sold for $5.3 million to childcare centre operator
Historic Toowong home sold for $5.3 million to childcare centre operator

A historic Toowong house has been sold after securing development approval for $5.3 million.

The property is one of the suburb’s largest private landholdings.

The 3,655 square metre elevated ridgetop parcel of land at 28-30 Woodstock Road was bought by a local childcare centre owner-operator.  

It has been granted development approval for redevelopment as a 142-place childcare centre which will occupy the existing residence.

Two residential lot subdivisions totalling 849 square metres have also been approved on the site.

Endrim House has six bedrooms, three bathrooms, built-in wardrobes, two garage spaces, a pool, wine cellar and gardens.

It was built in 1905 by Joseph Badger, an American who moved to Brisbane to modernise the city’s tram system.

JLL’s Senior Executives in Sales and Investments, Sam Byrne and Blake Goddard, had the listing.

“The purchaser, a local owner occupier in the childcare industry, will operate the centre following an extensive refurbishment, adding to their existing portfolio of other centres across South East Queensland,” Byrne said. 

“The sale reflects the ongoing demand the childcare market is experiencing, particularly in areas which are under-supplied.

“Toowong provides the perfect demographics, and no doubt the new buyers will create something very special, setting themselves apart from competition in the area.

“Brisbane continues to experience unprecedented development and infrastructure spending that will see the city redefined and transformed.

“Toowong is particularly well-placed for continued growth.

“Over the coming years, residents will see significant growth in the local area, driven by the suburb’s access to high-frequency public transport, shopping centres and medical facilities.” 

Tags: 
Commercial Sale Toowong

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