Exchange of contracts for the sale of the site to Irvine Group

After several months of carefully considering the best path forward for redevelopment, we have recently exchanged contracts for the sale of the site to Brisbane-based Irvine Group, a step that will enable fresh investment and the planning of an exciting new mixed-use precinct, including a new shopping centre.

We want to acknowledge that this has been an incredibly difficult decision for us. Like you, we have a deep and longstanding commitment to seeing a vibrant new shopping centre brought to life here—one that we had hoped to continue owning and managing, as we have proudly done for the past 10 years.

However, due to the scale of the site and extensive remediation works required, we are unfortunately not in a position to take this redevelopment further on our own at this time.

We are truly proud to have served the Toombul community over the years and will continue to follow the progress of the site with great interest.

Irvine Group Managing Director, Michael Irvine said: “We are excited about our acquisition of the former Toombul Shopping Centre site and believe we are in a unique position to deliver what the community needs, with our knowledge of the local area and delivery capability on a site of this nature.”

For more information, please see our latest community update here.

Welcome to the Toombul Renewal engagement hub

Toombul sustained catastrophic damage during the flood event in February 2022. Given the extent of the damage and the increased risk of a further flood event, Mirvac made the difficult decision that it was not practicable to reinstate the Centre as is. We understand the hardship experienced by our retailers, and the challenging time this has been for the broader Toombul community.

Through our engagement hub, you can:

• Stay informed about the site through our community updates
• Find out more about the demolition works completed in February 2025
• Review community feedback from earlier engagement activities
• Learn how to contact the team and register to receive updates

Community engagement is an important part of Toombul Renewal and we look forward to keeping you informed about progress. The outcomes of community consultation, along with planning outcomes and commercial considerations, will inform decisions about the future of the Toombul site.