April Market Update

May 15, 2018

For our market wrap this month we wanted to do something special for all our Foodie Friends! The Toowoomba region continues to thrive and the introduction of many new food, beverage and entertainment venues is a prime example of this. We have started a list of 5 exciting new food opportunities that are sure to get your tastebuds sizzling.

First and foremost, let’s start with The Bank. Situated at the old Westpac building on the corner of Margaret and Ruthven Streets, it’s easy to see the progress taking shape for the new rooftop bar and bistro, with a structure now prevalent at the top of the building. Phil Collins, a Toowoomba developer owns the building; however renowned Toowoomba Publican Phil Coorey will run the bar from his premises.

Let’s stick with Phil for our second opportunity to keep an eye out for. Whilst the construction is still underway at The Bank, Phil has his hand in a number of other initiatives including the continuation of a monthly pop up food event he has dubbed The Blank Space Truck Collective, after hosting popular food truck events in the past. The event will draw food trucks from Brisbane and surrounds; the first of which will kicked off at the start of May with entry just $5. It gives Toowoombaites a taste of some popular eateries that they may not normally have access to.

The third on our list is a venue at the site that has been previously home to Veraison, Olive Branch and more recently, Tom Collins underneath the Toowoomba Central Plaza Hotel. It has been purchased by the same company which owns and operates the hotel itself. The new bar, now operating as Centro Bar and Restaurant, serves coffee, light meals and alcoholic beverages, as well as providing room service to the hotel guests.

The Fourth on our list is sure to please our foodie friends with an abundance of German Cuisine gripping our city. Visionary entrepreneur, Aaron Goldie has already brought us the moose – Chocolate Parlour & Cocktail Bar located at Walton Stores. He has since transformed the neighbouring old 2Birds restaurant into “The Bavarian Biergarten” offering. one Litre Steins, German sausages and wood fired pizza.

Another german restaurant will call Grand Central home, with the opening date said to be later this month. The 300 seat casual dining restaurant called The Barvarian will sell pork knuckle, pork belly, schnitzels, gourmet sausages and other German goodies, as well as pouring a range of local craft beers and Bavarian favourites.

To round out our german theme, Bar Wunder is also set to open around June this year in Ruthven Street, next door to the Shingle Inn, after the owners of popular food truck Ich Bin Ein Bratwurst decided to find a more permanent home in Toowoomba. The owners, Mark McElligot and Fiona Davis, are rumoured to be bringing a rustic and retro vibe to the main street.

The fifth and final on our list is sure to send you into a food coma! An Italian restaurant has opened its doors at Eastville. Bel Cibo, which means Good Food, offers delicious pizza, pasta, risotto, salads and deserts. This is the owner’s second store, with their Redcliffe restaurant opening just 2 years ago. The Italian cuisine has been receiving great reviews from their customers, with many taking advantage of their delivery service, along with the option to dine-in or takeaway.

To round out this month we can report in terms of sales, our office secured 29 contracts between our 9 agents as well as listing 34 properties fresh to the market.

As we turn our attention to the rental market in Toowoomba, in April alone RE/MAX Success serviced 1,142 unique tenant enquiries, conducted 221 property inspections, processed 150 tenancy applications and secured 39 new tenancies. Our vacancy rate as at the 30th of April remains significantly lower than the average in our area.

On behalf of the Daniel Burrett Team, thank you for watching, we look forward to keeping you updated over the years.