The latest Building & Development Activity Report was published in June 2020.

Report highlights

  • The ‘nation-building’ Inland Rail project is gaining momentum. In December 2019, the Inland Rail Intergovernmental
    Agreement was signed, with the project proposed to be operational in 2025. Inland Rail is a 1,700km freight rail network,
    with construction expected to create approximately 2000 local jobs and contribute around $5 million to the local economy.
  • The $1.6 billion Toowoomba Bypass, formerly known as the Toowoomba Second Range Crossing, was completed in late
    2019, providing an important part of the road, rail and air transport infrastructure which will drive the Toowoomba Region’s
    future as a leading transport, logistics and industrial hub.
  • Asterion (Australia) Pty Ltd will be developing the world’s largest purpose-built, renewable-powered medicinal cannabis
    cultivation, research and manufacturing facility on 75 hectares of land adjacent to Toowoomba Wellcamp Airport.
  • Construction of vital infrastructure for the Toowoomba Trade Gateway (formerly Toowoomba Enterprise Hub) was
    completed in late 2019 with funding assistance from the Queensland Government. The precinct incorporates FKG Group’s
    AATLIS, InterLinkSQ, and Wagners’ Toowoomba Wellcamp Airport and Wellcamp Business Park. The $16.7 million upgrade
    solidified the Toowoomba Region as one of Queensland’s leading logistic and industrial hubs.
  • The Queensland Government has committed up to $10 million to help fund establishment of a Regional Trade Distribution
    Centre (RTDC) at Toowoomba Wellcamp Airport, which aims to boost rapid air freight access to international markets for
    agricultural producers. The Wagner Corporation has been selected to establish the 3400sq m distribution centre which will
    consolidate and distribute about 500 tonnes of premium export goods each week for freight aircraft.
  • The Qantas Pilot Training Academy has been established at Toowoomba Wellcamp Airport, including a 2,020 sqm hangar,
    a 2,000 sqm training facility, a 755 sqm administration building and 23 x 6 bedroom/4-bathroom duplexes. The Qantas
    Group has partnered with Flight Training Adelaide to train an estimated 250 pilots per year.
  • Darling Downs Hospital and Health Service is moving forward with plans to redevelop the Toowoomba Hospital at the
    centre of a master-planned health and knowledge precinct at Baillie Henderson Hospital campus, north of the Toowoomba
    CBD and in close proximity to the Toowoomba Bypass. The Masterplan and Feasibility Study are due for completion in the
    first half of 2020.
  • The low-interest-rate environment has resulted in strong investor demand for Toowoomba commercial property.
    Demand is concentrated in properties that offer secure long-term cash flows with national tenants, while demand is
    limited for secondary and vacant assets, creating a widening gap between secondary and prime assets. This may be
    further pronounced in a post-COVID-19 environment, where investors will be increasingly focused on income security and
    susceptibility of tenants’ businesses to any economic downturn.
  • Toowoomba’s long term future as a major transport and logistics hub remains on track and in fact, may be further
    strengthened if demand for warehousing and distribution rises in response to a forecast increase in online shopping and
    e-commerce.
  • Toowoomba housing remains extremely affordable, with 56.7% of all house sales and 87.9% of all unit sales recorded
    during 2019 priced below $400,000.
  • Toowoomba is rapidly developing as a desirable retirement hot spot with a large number of facilities recently completed,
    under construction and in planning, providing retirees with an exceptional choice of facility type and location.
  • Arrow Energy has recently announced a $10 Billion Coal Seam Gas project within the Surat Basin. The Surat Gas Project
    (SGP) is scheduled to commence in 2020 with 200 construction jobs created during phase one and an anticipated further
    800 construction and operating roles over the life of the project.

Read the full Building & Development Activity Report 2020

Coronavirus disclaimer: The report data and commentary is based on pre-coronavirus conditions. The 2021 Building & Development Activity Report, with fully informed commentary and data updates, will reflect the coronavirus economic impact to the Toowoomba Region.