New retailers, office space, even in-fill housing could be on the cards for a rare inner-city block up for sale.
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The 1500 square-metre block, at 9-19 Mair Street, is going through an expressions of interest process with Colliers International - previously agricultural supply store JT Farquhar and Sons, with a blinds store attached, it also includes two currently vacant blocks on either side.
Sales and leasing executive Lauchlan Waddell said given the massive investments into the area, like retail expansions over the road, train station precinct upgrades, and ongoing streetscape works, the time was ripe for some new blood in the space.
"It's certainly a size that makes it stack up for a development of any kind, and it's good to see there's an opportunity here for development, particularly without any heritage overlays in place," he said.
"It's certainly a good spot to increase the height - all you're really protecting is the train line behind - so if you're going to go higher in Ballarat, this is a better part, and that's if it does go to a multi-level office or residential development, but it could go to retail, like a big box retailer that isn't currently in Ballarat."
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There was a proposal in 2019 for a mixed-use three-storey cafe, office, and residential block on the corner of Davies Street, a potential direction for this block.
It's also within the area being surveyed as part of the fast-tracked Ballarat train station precinct southside masterplan project, which has now been paused, and near to the still-in-planning Bakery Hill Urban Renewal Plan.
"We don't get many of these come up, it is hard to tell what the level of interest will be like," Mr Waudell added. "We've seen Ballarat grow phenomenally over the last couple of years, and in-fill development is something council's big on.
"Broadly speaking, Ballarat's been very fortunate, we've had strong population growth, some good activity on office leasing, and the industrial sector has been going from strength to strength.
"We've seen industrial values for land triple in the last two-and-a-half years, and industrial warehouses increased in value as well - commercially, things are good, but there are exceptions to that like anywhere."
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