Toowoomba company’s HQ sells for eye-watering amount
FKG Group’s main site on McDougall St was snapped up for $23 million by a Sydney family, making it one of the largest sales in Toowoomba in the past decade.
The 3-5 hectare headquarters, built in 2013, includes office space, depots, parking, a gym and even a childcare centre to cater for employees.
LJ Hooker Toowoomba agent Markus Eames, who helped broker the deal with colleague Dan Cullinane, said the sale-and-lease-back deal was a big win for all parties.
“It was a private family from Sydney looking to invest in Queensland and this asset fit perfectly,” he said.
“There are no real examples to compare it with in Toowoomba.
“We had a lot of property fund inquiries, but at the end of it, the family were the winners — we’re pretty confident this was the best result.
“With industrial properties in Toowoomba, it’s the highest sale I’ve seen.
“This shows the strength of that side of Toowoomba — wealthy families and investment funds are satisfied with Toowoomba’s growth enough to buy in it.”
Mr Eames said the COVID-19 pandemic had actually created a rare window of opportunity to showcase the listing.
“We had to adjust a lot during the COVID period, and it was a big decision to market it post the pandemic,” he said.
“We had to do the tour via our phone and the video we put together for the property.
“We picked a level in the market where we could not see too many A-class industrial properties for sale.
“What it did was it stood out from the rest of the market.
Originally published as Toowoomba company’s HQ sells for eye-watering amount