241-247 Timor St 11,840 SF 100% Leased Flex Building Warrnambool, VIC 3280 $1,664,510 ($140.58/SF)

Situated in the heart of Warrnambool’s thriving CBD, this substantial freehold asset offers an exceptional combination of secure income streams and compelling value-add potential. With an overall built area of approximately 1,100 square metres, the property currently accommodates three established tenants, complemented by an additional 700 square metres of largely undeveloped warehouse space—ideal for future development, owner-occupation, or repositioning to enhance yield (STCA).
Current tenancies include a well-known pizzeria, a florist, and an architectural practice, each occupying well-presented commercial spaces under long-term leases. In addition, smaller subsidiary tenants operate on monthly terms, contributing to steady income while retaining flexibility for asset repositioning.
The rear section of the property comprises a vacant warehouse with loading dock and an old office area, unlocking significant upside for redevelopment or expansion of income-generating areas in a market with limited commercial supply. Warrnambool’s rapidly growing population and expanding CBD activity further reinforce the long-term investment and redevelopment appeal of this high-profile holding.
Ideal for investors seeking both immediate returns and a future growth pathway, this asset’s scale, location, and untapped development potential make it a standout offering in a tightly held regional market.