Developer pays $15m for Toowoomba farm
A farm surrounded by housing estates in Toowoomba’s north has sold for $15.15 million.
The 11.01 hectare, irregularly shaped Highfields site, Lot 219 Alexander Avenue, also known as 75 Highgrove Drive (pictured, top), was acquired by a south east Queensland developer.
Cleared and fully serviced, it was offered permit-ready for a 105-lot subdivision.
JLL’s Liam Petersen, who brokered the off-market deal with Jake Burrowes and Harrison Katsanevas, said the land rate of $1.38m/per ha demonstrates demonstrating the depth of developer capital currently targeting the region to address surging housing demand and the critical need for new supply.
Developers keep coming to Highfields
Highfields forms part of a growth corridor about 20 kilometres from Toowoomba’s CBD (continues below).
Elsewhere in the suburb, Brisbane developer Boldstone is delivering a $200m housing estate across 32ha – one of several sites it holds in the pocket – while Clive Berghofer Group is completing the Akora estate on Reis Road in stages.
ASX-listed Ingenia Communities also acquired a parcel in the suburb in late 2024.
Spanning 33ha, it is making way for Darling Downs, an over-50s community with c800 dwellings – Toowoomba’s largest land lease community.
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