The property at 28 Main Road, Bakery Hill has been owner-occupied for some time and has operated intermittently in recent times.

It includes two street frontages, with both the Main Bar and Tinetti's Pizzeria next door included as part of the package.

The property is measured at 462 square metres, with 349 square metres of building, and is being quoted at $1.25 million.

Ray White Ballarat partner Sam Borner said the right owner could help the Main Road area improve as a hospitality hub alongside award-winning restaurant Mr Jones.

"It's a ripper. It's becoming another little eatery hub. The location into town is so central, people can still walk from town to there and vice versa. If they finish having a meal there, they can walk into town to have another drink if they wanted to, so it's a really cool setup," he said.

Mr Borner said while a new business would help enliven the area, the City of Ballarat's plans to revitalise Bakery Hill and the Bridge Mall would also play a part.

"I think by having the road go through the Bridge Mall, it's certainly going to assist a lot of the traders down there and business owners. I think it's a start to create what that end of Ballarat needs," he said.

"When you've got successful businesses who are all trading well and have got a good following and good support from the community, that'll enhance the area a lot more.

"It does take the council to help, but it also takes really good businesses to be located there to draw the right type of people to the area."

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Mr Borner said the business was ready for a new owner to get a business up and running quickly.

"It's on vacant possession. There's no lease in place so the person can buy and operate their own business. They will take possession of the building. It is but it isn't a walk-in, walk-out. The majority of the fittings and fixtures would remain. It's fully equipped to run a restaurant and a bar from the premises," he said.

"It's so well equipped too. Having it already been set up as a bar and restaurant, all the beer lines in, the cool rooms are in, the kitchen's full, so it's pretty much a walk-in, walk-out setup."

"The owner has done a full renovation himself. He's a builder, he's done it with his own hands and he's had the vision and the foresight to make it into what it is, so I think he's been pretty smart with the way he's built it and developed it, and he's got a really strong vision."

Enquiries on the property can be made through Ray White Ballarat.

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