Are you searching for an investment opportunity that offers instant income along with excellent development potential? Look no further than Geelong’s CBD. With its thriving commercial market and promising future prospects, Geelong is emerging as a hotspot for real estate enthusiasts.
One such opportunity that has caught our attention is the commercial property at 178-182 Ryrie Street, offered by Colliers, a renowned name in the industry. This centrally located property spans approximately 950 square meters, making it an attractive proposition for astute investors.
Why Geelong’s CBD?
The recent state government approval of the Central Geelong Framework Plan has paved the way for exciting developments in the city. Geelong is witnessing a substantial wave of growth, with more than $16 billion worth of projects in the pipeline and over 120,000 new jobs expected to be created. This, coupled with a population growth rate of 1,000 per year, is transforming Geelong into a bustling metropolis.
Geelong’s CBD presents a unique opportunity for investors to be part of this rapid growth. Surrounded by major businesses including Village Cinemas, McDonald’s, Telstra, and the Sporting Globe, 178-182 Ryrie Street is strategically positioned to maximize its potential. Its proximity to established businesses ensures a vibrant and bustling environment, making it a prime location for future developments.
The Future of 178-182 Ryrie Street
Under the recently released Central Geelong Framework Plan, 178-182 Ryrie Street has been granted a new maximum height limit of 28 meters. This opens up possibilities for an eight-storey redevelopment, subject to council approval. With urban consolidation becoming a key focus in Geelong, the prospect of a multi-storey development offers exciting prospects for investors.
While planning for the future, investors can also enjoy the immediate benefits of a current lease, which generates an annual income of $112,540. This is an attractive option for those looking to secure income while exploring development opportunities.
Development Potential and Investment Factors
178-182 Ryrie Street boasts enormous development potential. Situated in the heart of Geelong with dual street frontage, it falls within the Activity Centre Zone. This zone encourages mixed-use developments, making it an ideal choice for those seeking a versatile investment opportunity.
Looking ahead, Geelong’s growth trajectory is set to continue. The city is projected to have a population of 510,000 by 2050, and it has also been selected as a host region for the Victoria 2026 Commonwealth Games. These factors bode well for investors who seek long-term gains.
Act Now to Secure Your Investment
If you are intrigued by the prospects of investing in 178-182 Ryrie Street, now is the time to take action. This property is currently up for sale via expressions of interest, with the closing date set for July 7 at 2pm. To gather more information and explore this exciting opportunity, reach out to Colliers listing agents Ben Young on 0407 296 679 or Chris Nanni on 0438 306 361.
In conclusion, the CBD of Geelong presents a unique investment opportunity that combines immediate income with lucrative future prospects. 178-182 Ryrie Street, with its prime location and development potential, is undoubtedly an investment worth considering. Take the leap into Geelong’s vibrant commercial property market and unlock the potential for financial success.
Colliers are excited to be offering this central Geelong opportunity at 178-182 Ryrie Street, located on approximately 950sqm of land.
The Colliers Geelong team has been chalking up some wins in the commercial market recently.
The team successfully sold the historic woollen mill in Newtown on behalf of Pegasus Antiques, along with some core assets for the City of Greater Geelong and several other prime commercial properties, and are now bringing to the market a leasing opportunity at Livv Development’s $150 million office tower, Yale Place.
Colliers is excited to offer another central Geelong opportunity at 178-182 Ryrie Street located on about 950sqm of land.
This is a unique opportunity in the heart of the Geelong CBD where you can receive an income while planning the future.
With the recent state government approval of the Central Geelong Framework Plan, 178-182 Ryrie Street is perfectly positioned as the next large-scale Geelong redevelopment.
Colliers senior executive of sales and leasing Ben Young said this was an exciting opportunity to purchase 950 sqm of commercial property in the heart of the Geelong CBD, surrounded by major businesses including Village Cinemas, McDonalds, Telstra and the Sporting Globe.
“Under the recently released Central Geelong Framework Plan 178-182 Ryrie Street has a new maximum height limit of 28 metres, lending itself to an eight-storey redevelopment subject to council approval,” Mr Young said.
“As the current lease returns $112,540 per annum, this is an amazing opportunity to invest while planning for the future.
“With more than $16 billion in projects and more than 120,000 new jobs in Geelong, which is growing at a rate of 1,000 per year, Geelong is no longer the sleepy town it once was.”
This property offers enormous development potential located in the heart of Geelong with dual street frontage in the Activity Centre Zone.
Geelong is the second fastest growing city with a population expected to be 510,000 by 2050 and will be a host region for the coming Victoria 2026 Commonwealth Games.
This property is to be sold via expressions of interest, closing July 7 at 2pm.
For more information, phone Colliers listing agents Ben Young on 0407 296 679 or Chris Nanni on 0438 306 361.