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2. Property Highlights

Unlock unparalleled investment potential in the vibrant heart of Philip Islands precinct of Cowes

Discover the unmatched investment opportunity that awaits in the bustling core of Phillip Island's Cowes precinct, Victoria's most rapidly expanding region. This exceptional property, located in the highly desirable Multi-Use Zone (MUZ), stands out as a unique offering. Given the scarcity of MUZ-designated lands on the island, finding a property that includes 10 commercial spaces and 4 spacious residential apartments above, all within a Strata-titled building, is indeed rare. This feature alone significantly enhances the flexibility and future potential of your investment, positioning this Commercial Residential building as a standout asset.

Capitalize on the chance to achieve long-term profitability by developing the property with more storeys, unlocking tremendous potential to expand residential areas and boost income. Such a strategic enhancement not only promises to elevate the property's worth but also attracts developers and investors looking for substantial growth opportunities. Consider extending the existing apartments or reimagining the current parking area into more storeys high of premium residential units, subject to council approval .

The stable rental income generated by the existing setup adds an attractive financial layer to its appeal, laying a strong foundation for any investor. This dual advantage of immediate revenue and expansion potential renders the property an enticing and complex investment choice.

Phillip Island is recognized for its dynamic growth in both tourism and residential sectors, with Cowes Plaza sitting at the heart of the island's retail hub. This critical position ensures it remains an essential component of the island's commercial and service trade center. As the number of permanent residents and tourists rises, so does the demand for high-quality retail, commercial, and residential spaces. With no new land developments in the vicinity, the business and capital growth of existing establishments are poised to soar.

Adding to the property's allure is the anticipated excitement from "The Block" by Channel 9, set to spotlight Cowes in 2024, further enhancing the island's appeal and investment potential.

For those interested in taking their investment portfolio to new heights, this property promises not just a strategic location, but a future filled with growth and opportunities.

Key Features:

- Land size: 2550m²
- Building footprint: Ground 1250m², Level 1 1250m²
- Zoning: MUZ (a rare find in this zoning category)
- Commercial: 8 retail/office spaces 
- Residential: 4 expansive apartments
- Parking: 43 spaces
- All units are strata-titled
- Significant development potential
- Can be converted into medical premises (STCA) 

Inquire now to explore this exciting investment opportunity further

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4. Property Location

209-213 Settlement Road, Cowes, VIC, 3922

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5. Due Diligence

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209-213 Settlement Road, Cowes, VIC, 3922 Cowes
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