Real estate agents are unable to meet the demand for commercial properties, with a rush of business owners wanting to sign long-term leases.
Falk & Co director David Falk recently leased the former Warrnambool Locksmiths property in Kepler Street to an existing business moving locations.
He said the premises were "snapped up" prior to being listed and he said he had good enquiries for the property with up to four other parties interested.
"Up until COVID-19 began it was really quite tough to get tenants," Mr Falk said.
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"Since the start of last year things really picked up. It's odd but that was how it worked. We're getting lots of enquiry but we haven't got anything available at the moment.
"We're getting a constant flow of people wanting to lease industrial sheds, it's all that retail, commercial, industrial. It's all highly sought after," Mr Falk said.
He said there was a big demand for retail space, including shops, and there wasn't a lot of ground floor properties available.
"We've got some first floor office space but we're always looking for more retail space, whether it be utilised as office space or retail.
"We certainly have a lot of people looking and not enough to show them. It's really good at the moment and very different to how it was 18 months ago. I think it's very positive by all. It's incredible."
Ray White Warrnambool business development manager Hayley Shannon leased the former Figsellers Cafe this month and said she'd seen a similar demand, also fielding a number of enquiries.
The Liebig Street premises will soon house a Melbourne-based Mexican restaurant called Hecho en Mexico.
"We have found the enquiry level for commercial spaces has increased substantially over the past six to nine months with lots of individuals and businesses waiting for the perfect property for their ventures to become available," Ms Shannon said.
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