337 Ryrie Street Geelong

Offering a myriad of options, the property offers multiple commercial and residential possibilities. Set on 920sqm with dual street access, the Northern side of the property offers exceptional development potential and scope to maximise the spectacular views. The property is zoned Residential Growth zone schedule 2 which will lend itself to further development maximising the Sommers Place frontage which is approx. 500m to the Geelong Waterfront. Unlike many potential development properties, with some careful planning, the property can continue to maintain income while work is being carried out. The main building can be reconfigured to gain valuable space without greatly diminishing the income producing potential of the medical suites. A reduction in the main building floor area will not greatly lessen the income potential which is around $70k per annum. The 2 one bedroom units will continue to return approx. $19k p/a while you are completing the planning process. This is a rare opportunity to design and build in an area that is extremely tightly held with such proximity to the Geelong Hospital, CBD and water front.