Campus on the market
Smart City site for sale
THE demise of failed training college Smart City has partially forced the owner of its former Toowoomba campus to put the property on the market.
The Sunshine Coast-based vocational training service collapsed more than 12 months ago, leaving dozens of students in the Toowoomba region with thousands in debt and no diplomas or degrees to show for their efforts.
Staff exited the college’s Toowoomba site on Ruthven St in March 2017, with the owner finally putting it up for sale last week after a long search to find another tenant.
LJ Hooker’s Markus Eames said while there were other factors at play behind the sale, the loss of Smart City from what was supposed to be a long-term lease had contributed to the sale option, potentially worth more than $1.1 million.
“It had been available for lease for some time but it’s fresh on the market for sale or lease,” he said.
“We’ve found over the past year that there are more purchasers out there with the low interest rates, rather than people looking to lease.”
“Obviously, it (the loss of Smart City) has contributed to the sale.
“If the owner still had Smart City in there, I’d be confident he’d want to keep it off the market.”
The building comes with six office spaces and work spaces on the ground floor and five offices on the first floor.
Mr Eames said it would suit professionals looking for established office space in the Toowoomba CBD.
“There are not a lot of offices for sale in the CBD for sale,” he said.
“If you take strata-based offices out of that, the supply is lower.
“Your solicitors, accountants, even real estate agents would suit this.
“It’s a well-fitted out building that allows for lots of different uses.”
For more information or to inquire about a sale or lease, call Markus Eames on 0407 388 856.