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

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