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News release

Brisbane

BRISBANE: Toowoomba Resort Retirement Village sells for $6.25million


January 30, 2013 – Jones Lang LaSalle’s Health and Aged Care specialist Simon Quinn has kicked off 2013 with a multi-million dollar sale in Toowoomba, a definite signal that this market sector is one of huge potential in Queensland.

Quinn has negotiated the sale of the Toowoomba Resort Retirement Village for $6.25million to private Brisbane-based retirement village operator, Oak Tree Group Pty Ltd.

A receivership sale, Quinn said the offering generated significant interest nationally, and settled on New Year’s Eve.
 
"Toowoomba Resort has great potential, boasting an excellent position in a strong demographic market in Toowoomba. The village needed an experienced operator and Oak Tree Group Pty Ltd is a market leader in this area,” he said.
 
Jones Lang LaSalle managed the sale as exclusive agents, on behalf of Grant Thornton as Receivers & Managers.
 
The property was offered to market as a retirement village and adjoining approved development site, located adjacent to the University of Southern Queensland. They were offered as 2 separate lots or ‘in one line’.
 
The properties consisted of 134 – 138 Baker Street (a modern retirement village with 25 Independent Living Units completed and a further 33 approved), and 140 – 144 Baker Street (a 2.02Ha site with a Development Approval for 61 ILUs as well as a pool and community centre).
 
Quinn said the properties were well positioned with nearby access to Toowoomba’s extensive healthcare, retail and community facilities.
 
Simon Quinn works in Jones Lang LaSalle’s National Social Infrastructure Division headed by Noral Rich.  Simon specialises in Retirement, Health & Aged Care and is based in Jones Lang LaSalle’s Brisbane office.  The Social Infrastructure sector is a growth market for the firm nationally.​