{"id":279771,"date":"2025-11-12T15:01:13","date_gmt":"2025-11-12T15:01:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/279771\/"},"modified":"2025-11-12T15:01:13","modified_gmt":"2025-11-12T15:01:13","slug":"toombul-shopping-centre-site-thrown-lifeline-after-mirvac-announces-sale-with-priority-to-build-new-retail-centre","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/279771\/","title":{"rendered":"Toombul Shopping Centre site thrown lifeline after Mirvac announces sale with ‘priority’ to build new retail centre"},"content":{"rendered":"

The site of the former Toombul Shopping Centre could face a brighter future after its owner, Mirvac, announced it was selling the land to a developer who had plans to create a new mixed-use precinct.<\/p>\n

The development, in the inner-northern Brisbane suburb of Nundah, would include a new shopping centre, Mirvac said in a statement.<\/p>\n

Toombul Shopping Centre, once one of the largest in Brisbane with 140 specialty shops, was devastated by the 2022 floods.<\/p>\n

The sale will mean that redevelopment plans drawn up by Mirvac will have a chance of progressing under a new owner.<\/p>\n

“Mirvac today announced it has exchanged contracts for the sale of the site to Brisbane-based Irvine Property Group, enabling renewed investment and the development of a new mixed-use precinct, including a new shopping centre,” Mirvac said in its statement.<\/p>\n

\"A<\/p>\n

Toombul Shopping Centre was hit hard by flooding rain in February 2022. (ABC Radio Brisbane: Kenji Sato)<\/p>\n

“Irvine Property Group \u2026 is a diversified Australian property development company with more than 30 years’ experience in premium mixed-use, residential, retail and industrial projects in south-east Queensland.”<\/p>\n

Toombul Shopping Centre opened in 1967, and Mirvac has owned it since 2016.<\/p>\n

Flood-hit retailers at major Brisbane shopping centre have leases terminated<\/a><\/p>\n

Centre owner Mirvac has informed some businesses that it is\u00a0“impractical and undesirable to reinstate the centre” to how it was before it was inundated in February 2022.<\/p>\n

The February 2022 floods saw rain falling for three consecutive days, inundating the shopping centre and forcing it to shut.<\/p>\n

Three months later, after an inspection of the damage, it was announced that the centre would not reopen due to safety reasons.<\/p>\n

The closure caused financial hardship for many retailers and angered residents.<\/p>\n

“We acknowledge the community’s strong interest in seeing a new shopping centre built on this site, after the former centre was demolished due to the extensive damage caused by the 2022 floods,” Mirvac CEO Campbell Hanan said.<\/p>\n

“Unfortunately, we’re not in a position to take this redevelopment further on our own at this time.<\/p>\n

“However, we’re very pleased to have reached an agreement with Irvine Group.”<\/p>\n

\"A<\/p>\n

Toombul Shopping Centre closed down after severe storms in 2022. (ABC Radio Brisbane: Kenji Sato)<\/p>\n

Irvine Group managing director Michael Irvine said in the statement that developing a shopping centre in the new project was a “priority”.<\/p>\n

“Understanding the needs of the local community has always been an important aspect of our projects, and we welcome the community’s feedback on the future Toombul,” he said.<\/p>\n

“Our priority is to deliver a new shopping centre as the first stage of a retail-led mixed-use development, which is in line with Mirvac’s draft master-plan, which has council’s in-principle support.\u00a0<\/p>\n

“We look forward to working through the next steps, including lodging the first development application for a new retail centre and housing.”<\/p>\n

No timeline was given about how long construction would take or when any new shopping centre may open on the vacant site.<\/p>\n","protected":false},"excerpt":{"rendered":"The site of the former Toombul Shopping Centre could face a brighter future after its owner, Mirvac, announced…\n","protected":false},"author":2,"featured_media":279772,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[651,43,162122,162120,44,162121,41,39,42,40],"class_list":{"0":"post-279771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-brisbane","9":"tag-headlines","10":"tag-irvine-property-group","11":"tag-mirvac","12":"tag-news","13":"tag-toombul-shopping-centre","14":"tag-top-news","15":"tag-top-stories","16":"tag-topnews","17":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/279771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=279771"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/279771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/279772"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=279771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=279771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=279771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}