It's the largest undeveloped site that deep in south WarrnamboolHarris and Wood agent Danny Harris
A commercial property on the market offers a great investment opportunity, according to Harris and Wood agent Danny Harris.
The city's backpacker accommodation in Stanley Street, is being sold via expressions of interest.
Mr Harris said there had been strong interest in the property from across the state.
The property can accommodate up to 70 people, but the 2101-square-metre site offers plenty of opportunities for expansion.
"It's the largest undeveloped site that deep in south Warrnambool," Mr Harris said.
"The land value - in residential terms - will outpace the value of its use as an accommodation venue."
Mr Harris said essential workers had made up most of the clientele at the backpackers during the coronavirus pandemic lockdowns.
However, Mr Harris said the business was expected to be busy in the coming months, with people keen to travel due to eased restrictions.
"We can see a light at the end of the tunnel with regard to international tourists," Mr Harris said.
"We're expected to have an avalanche of them in the next 12 months."
Mr Harris said the business had been profitable over many years, with budget accommodation in the city in short supply.
Expressions of interest for the property, which has a price range of between $1.5 and $1.6 million, close on December 14.
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