There’s plenty of reasons to invest in Ballarat, with a range of quality commercial properties across all asset classes on the market.
Ray White Ballarat director of commercial real estate Sam Borner said the regional city’s commercial property market was strong, and showed no signs of slowing down.
“Ballarat is always a really stable market with really good employment opportunities with good hospitals and good schools,” he said.
“It’s only an hour and 15 minutes to Melbourne CBD so people can commute via train or drive with a dual lane freeway all the way Melbourne.
“We’re growing rapidly and the real estate market is strong.”
A significant industrial site at the heart of Wendouree has attracted attention from both interstate and local investors.
Located at 209-211 Gilles Street North(pictured below), the 20,961sqm site is currently leased to a multinational car dealership until 2025, with a rental income of $1,335,000 per annum.
“This asset represents a rare opportunity to secure a prime infill land parcel with significant value add opportunities plus income in one of Victoria’s fastest growing locations,” Mr Borner said.
“The large site area with existing improvements offers multiple development opportunities including industrial, commercial, retail, or mixed use, subject to council approval, leveraging off the growing trade area.
“The property has already attracted interest from investors and developers, mostly from Melbourne and Sydney, with some local interest.”
A high-profile retail property in Ballarat’s CBD is also on the market.
Located at 35-37 Sturt Street, the 1,250sqm building has been catching the eye of Melbourne investors.
“It’s got a lot of floorspace right in the CBD,” Mr Borner said.
“It’s under lease to two tenants with the anchor tenant being Grill’d which will be attractive to investors.”
A third property at 27 Mirelle Drive (pictured above) is offering eight individual office/warehouse spaces between 292sqm and 360sqm, which are set to be complete at the end of 2023.
“These sites will suit local businesses such as allied health and professional services, as the attached childcare centre works well with those businesses,” Mr Borner said.
“It’s also just down the road from a new Coles which is being built.”
