Mr Jones, MMJ Real Estate Wollongong commercial sales director, said the multimillion-dollar GPT retail investment had generated extra foot traffic and a renewed vibrancy for its neighbouring businesses.

"I think it will continue to do so as that retail core stretches, and Wollongong City Council has assisted in that regard by putting the incentive in for awning and street facade upgrades over the past few years," Mr Jones said.

"A lot of the buildings along the western end have improved in appearance and it helps. When one or two buildings start to look better, three or four also do and so on, and it becomes a snowball.

"Anything within a small radius of GPT is really strong and really sought-after now."

Mr Jones made the comments in relation to a mixed-use commercial building his agency is selling at 266-268 Crown Street, which features three ground-floor shops and four residential units.

The multi-tenant investment was a prime freehold property positioned to take advantage of being close to Wollongong Central, he said.

"If you were looking at it a couple of years ago it was probably a little isolated there in the western part of Crown Street, but the GPT expansion has brought the heart of the city almost to the door of this property," he said.

"A Crown Street frontage is always a fantastic string to your bow."

The property, expected to sell for more than $1.5 million, will go to auction on Wednesday, April 1, at 6pm at the Wollongong Golf Club.

Other properties to go under the hammer that night include two unit blocks owned by IRT at 60 Grey Street, Keiraville, and 98 Corrimal Street, Wollongong, and a privately owned block of six flats at 137 Gipps Road, Keiraville.

"There has been a lot of inquiry already on all the properties listed for auction that night," Mr Jones said.