Investment chance at Ryrie Street edge

A multi-faceted development opportunity in the heart of Geelong is on offer ahead of an anticipated development boom for the city’s business precinct.

29 Ryrie Street, Geelong has hit the market with the desirable inner-city location expected to attract interest from investors, developers and businesses.

The freehold property is presently occupied by a hair and beauty salon, which includes multiple treatment rooms, reception area and main salon.

The tenancy brings in about $75,000 a year, with vanact possession available if required.

Selling agents say the property’s location, within an easy walk to Geelong train station and CBD, and with easy access to Latrobe Terrace is a key selling point for buyers eager to snap up potential development sites in the growing city.

Whitford Real Estate is selling this property for an expected price of between $1.5 million and $1.65 million.