Line of four Geelong CBD freehold properties draws potential buyers – Medical Marijuana Program Connection

A CBD commercial property spending spree is expected to continue as a line of four freehold titles is offered for sale on Ryrie St.

The buildings stretching from 130 to 140 Ryrie St provides a combined landholding of 1448sq m.

The properties are held by Melbourne investment group and are separated into seven individual tenancies, including first-floor space.

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All but one of the ground floor tenancies, including a Little Ryrie St car park Vietnamese restaurant, are occupied.

They are expected to entertain strong interest from the market, given recent sales of similar, but smaller properties close by totalled between $3.4m and $4m.

130-140 Ryrie St, Geelong, is listed for sale.

Darcy Jarman agent Andrew Prowse said the properties had been received well in the market, with interest from Melbourne and Geelong-based groups.

Interested groups include owner-occupiers, those looking to reposition the assets and developers, Mr Prowse said

“I suspect what will happen is it’ll be someone looking to reposition the asset that will be the ultimate buyer. Bed it down with some income and then look to do something, a bit of a land bank, for the future,” he said.

130-140 Ryrie St, Geelong, is listed for sale.

“It’s a pretty unique…