Commercial property in Warrnambool CBD to go under hammer

Ray White Warrnambool agent Jason Thwaites said there had been strong interest in the 246 square-metre double-storey building in Koroit Street since it was first advertised late last week.

Mr Thwaites said there was a healthy appetite for commercial properties in the city.

"There is an under-supply of commercial properties," he said.

"As the area grows, new businesses want to come to town and existing businesses are looking to upsize."

Mr Thwaites said the building could suit a number of operations.

"It would be ideal for a small office business such as an accountant or lawyer, or could be used as a residence as it has been in the past," he said.

Mr Thwaites said there had been interest from out-of-town buyers and locals.

The building was built 180 years ago and boasts solid sandstone walls.

However, it underwent a revamp two decades ago.

The property will be auctioned on February 24 at noon.

Another commercial property in the CBD, the Victoria Hotel, is about to be auctioned.

It goes up for action at 1pm on February 9 and is expected to fetch up to $4 million.

CRE Brokers' Rohan Pertzel, who is overseeing the sale, said the property had already attracted interest from across the state and even as far as New South Wales.

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