Geelong West shop conversion sets work, play wheels in motion

The Elizabeth Street shopfront, once home to Bradford bike business, has been converted into two one-bedroom dwellings.

The former home of Radford bicycle store in Geelong West has been given a new lease of life as hip residential or office space.

The classic brick shopfront at 32-32A Elizabeth Street is the latest commercial building along the strip to undergo a warehouse-style conversion.

Exposed red brick walls, polished concrete floors and dark stained timber ceilings lend an industrial edge to the two reconfigured one-bedroom dwellings.

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Exposed red brick features inside.

The open-plan living zone is versatile.

Hodges, Geelong West agent Marcus Falconer said the former bike shop site, once also home to a general store, presented range of residential and commercial options for owner-occupiers and investors.

He has set a price guide of $875,000-$925,000 for the properties, which are on one title.

“It’s certainly a really cool little building that has been given a new lease of life,” Mr Falconer said.

“It has been pretty much rebuilt from the ground up.

“It’s a very versatile workspace that would suit people who want to work from here, whether they want to move in, put in a permanent rental or rent it out as an Airbnb.”

It would make a funky workspace.

One of the ensuite bathrooms.

Both dwellings have an open-plan kitchen, dining and living room at the front and a bedroom with a built-in wardrobe and designer ensuite bathroom at the rear.

Alternatively, they could be used as office spaces with a prominent street frontage.

It’s estimated leasing out both as ultra-modern workspaces would generate a combined income of $40,000 per annum, or about $60,000 if offered as short-stay accommodation.

“We believe it would return 6 to 6.5 per cent,” Mr Falconer said.

The building before the renovation.

A number of former commercial properties in Elizabeth Street have been converted in recent years. The most prominent is the former Pix theatre, which was turned into two high-end townhouses.

Hodges, Geelong West agent Carl Hammond sold one half of the old theatre, now a three-bedroom, two-bathroom residence at 23B Elizabeth Street, for $1.41m in May.

The industrial-style property blends historic details like brick walls and exposed timber beams with a long list of modern luxuries.

This luxury townhouse at 23B Elizabeth Sreet, was formerly part of the Pix theatre, sold for $1.41m.

The interior has an industrial style.

Buxton agent Tom Butters last year also sold part of a butcher shop run for decades by John Gill at 68 Elizabeth Street.

Mr Butters said the buyers had already converted it into a three-bedroom, one-bathroom residence.

He expects a similar project will transform the neighbouring shopfront at No. 66, which is on the market for $530,000-$580,000.

More conversions at taking place at this former Geelong West butcher shop.

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