With the Toombul Shopping Centre now completely demolished, the once-bustling retail hub has been reduced to an empty space, leaving locals eager to know what will rise in its place. Amid the uncertainty, Mirvac has provided a glimpse of what’s to come, announcing plans of seeking financial and development partners to bring new life to the flood-prone location.
Read: Building Height Limits to Increase in Toombul, Other Shopping Precincts as Part of Growth Strategy
A New Vision for Toombul
Mirvac, which purchased the flood-prone property in 2016 for $233 million and invested another $35 million in upgrades, is now looking at a fresh approach to the site. The company has received support from BCC to transform the former shopping centre into a transit-oriented mixed-use precinct. This development could include residential apartments, retail outlets, and improved public transport connections, aiming to make the most of Toombul’s strategic location.
While there has been speculation that the site could be used for the 2032 Olympic Games, Mirvac has instead focused on a long-term solution that considers its flood history. The company has been in discussions with authorities to outline key development parameters, including traffic management, the design of a new bus interchange, open spaces, and—most critically—a flood mitigation strategy.
A Site with a Troubled Past
Toombul Shopping Centre was a key retail destination for decades, housing hundreds of stores and serving as a central hub for the local community. However, after the 2022 disaster forced the termination of hundreds of leases, the site was ultimately demolished in 2023 following BCC approval, marking the end of an era for many shoppers and businesses.
The absence of the once-thriving retail hub has already caused significant disruptions for nearby shopping precincts, leading to increased parking congestion and a gap in retail services for local residents.
Flooding remains the biggest challenge for any future development at Toombul. The site has been inundated multiple times, including during the 2011 and 2015 floods. Any new plans must incorporate robust flood resilience measures to prevent history from repeating itself.
Mirvac acknowledges this concern and has stated that addressing flood risk is “the most important part of the puzzle.” The company will need to develop a strategy that balances commercial viability with climate resilience, ensuring that any new structures are designed to withstand extreme weather events.
Next Steps: Finding the Right Partners
With BCC’s backing, Mirvac is now focused on finding financial backers and construction partners to bring its vision to life. Given the scale of the redevelopment and the current challenges in the construction industry, Mirvac is taking a collaborative approach. The company has begun engaging with a targeted group of potential investors and builders who can help turn the site into a modern urban centre.
Mirvac noted that with council support confirming permissible developments for the site, they have started discussions with selected potential partners, including investors and construction firms, to move forward with the redevelopment. Mirvac stated.
Read: Discussions Ongoing Regarding Possible Toombul Shopping Centre Redevelopment
A New Era for Toombul
The redevelopment of Toombul Shopping Centre presents a unique opportunity to reshape the area. If executed well, the project could provide much-needed housing, reinvigorate retail activity, and improve public transport connectivity. However, success will depend on how effectively Mirvac and its partners navigate the site’s flood risks and ensure that the new Toombul is built to withstand future challenges.
For now, residents and businesses in the area are waiting to see how this transformation unfolds—and whether it can finally fill the void left by Toombul’s demolition.
Published 19-February-2025
