New developers to take over flood-ravaged shopping centre site

The developer tasked with bringing life to the site of the former Toombul Shopping Centre says it is in the process of selling the property.

Mirvac had been looking for partners to help develop the site, but announced on Wednesday it was offloading it to Irvine Property Group, which owns the Rivermakers development in Morningside and has four other Queensland projects in planning.

“Unfortunately, we’re not in a position to take this redevelopment further on our own at this time,” Mirvac chief executive Campbell Hanan said.

The two developers put out a joint media release on Wednesday, with the deal expected to be finalised before the end of the year.

Toombul, which was opened in 1967 by the Westfield Group, was severely damaged during the 2022 Brisbane floods and never reopened. It was then knocked down by Mirvac in 2024.

If the sale goes through, Irvine will build a mixed-use residential and shopping development, something Brisbane City Council has previously expressed an interest in.

“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 masterplan and has council’s in-principle support,” the group’s managing director, Michael Irvine, said.

Hanan said Mirvac had reached agreements with the council about “critical issues” such as traffic, building heights and flood solutions.

Once the sale is official, any plans Irvine has for the property will be subject to the council’s development application process, including community consultation.

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