Real estate agent Colliers is looking for five new tenants for the downstairs portion of the iconic corner building.

These stores will join signed tenants Betty's Burgers and restaurant Augustus, and the existing shop Bed Bath and Table.

There are 1122 square-metres of space available and proposed plans split this up to five shops ranging from 93 to 391 square-metres.

Commercial sales senior executive Lauchlan Waddell said there could be changes to the floor plan depending on prospective tenants.

Access to the proposed stores will be via Curtis Street and Bridge Mall.

Mr Waddell said it was exciting to see more movement at the "landmark" Ballarat building.

He said there was a higher interest in service retail, offering something people cannot get from home.

In addition, the Timezone arcade opposite Norwich Plaza, which was approved by council on April 3, further adds to the precinct's value.

The classic building has undergone major renovations in the past six months.

Tenants were told of the new plans in July 2023 and the unmoving clock was taken down in October.

Mr Waddell said Colliers have been leasing a number of properties in the wider Bridge Mall areas where the construction work hit the halfway point in February.

"It goes to show that the private sector is responding well to what council's doing [in the Bridge Mall]," Mr Waddell said.

The redevelopment, with a $23 million price tag, is supposed to bring more people to the area by adding a one-lane road and new playground.

At the same time, council has approved an eight-storey apartment building on Humffray Street South in an effort to increase diverse housing stock within walking distance of shopping precincts.