FOR SALE
$1,800,000 - $1,900,000

4/72 Chapel Street
Cowes VIC 3922

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 344m2
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Incredible Opportunity!

Introducing 4/72 Chapel Street, Cowes. This commercial property presents an incredible opportunity for investors, boasting an amazing location with copious amounts of potential.
The property benefits from zoning that permits the construction of up to four storeys on the site, subject to council approval. Imagine the possibilities of creating a multi-story building that would provide panoramic, uninterrupted water views, captivating both locals and tourists alike.
Stepping inside, you'll immediately notice the premises' unique character and charm. Spanning approximately 344sqm of internal building area, this generous space offers a layout for various business ventures. The renovated bar and dining rooms create an inviting atmosphere for customers to enjoy their culinary experiences. A fully equipped commercial kitchen, complete with high-volume cooling and freezing equipment, ensures efficient operations and culinary excellence.
The building also features male and female bathrooms at each end, ensuring convenience and comfort for all patrons. Additionally, nestled at the rear of the building, you'll find a fully self-contained double-story apartment, adding versatility to the property. This arrangement provides potential for on-site accommodation or the opportunity for an owner-operator to reside on the premises.
Situated on approximately 660sqm of land and a short walk to the gorgeous North facing beach, this commercial property offers plenty of space for expansion or outdoor seating areas. The covered alfresco areas provide additional options for customers to enjoy the beautiful surroundings while indulging in their dining experiences.
This property presents an exceptional investment opportunity and has a current 5 x 5 x 5 lease in place with a net annual return of $79,500 + GST + outgoings and the potential for future development.
Don't miss out on securing one of the most remarkable parcels of commercial property in Cowes, Phillip Island. Act now and seize this exceptional chance to make this your own.
Contact us today to arrange a viewing and explore the limitless possibilities of 4/72 Chapel Street.

Property Details for 4/72 Chapel St, Cowes

Building Type
Commercial
Floor Size
344m2

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About Cowes 3922

The size of Cowes is approximately 20.7 square kilometres. It has 20 parks covering nearly 6.7% of total area. The population of Cowes in 2011 was 4,053 people. By 2016 the population was 4,832 showing a population growth of 19.2% in the area during that time. The predominant age group in Cowes is 60-69 years. Households in Cowes are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Cowes work in a trades occupation. In 2011, 63.7% of the homes in Cowes were owner-occupied compared with 65.4% in 2016.

Cowes has 7,862 properties. Over the last 5 years, Houses in Cowes have seen a 40.14% increase in median value, while Units have seen a 61.84% increase. As at 30 September 2024:

  • The median value for Houses in Cowes is $736,221 while the median value for Units is $570,668.
  • Houses have a median rent of $480 while Units have a median rent of $430.
There are currently 110 properties listed for sale, and 17 properties listed for rent in Cowes on OnTheHouse. According to CoreLogic's data, 216 properties were sold in the past 12 months in Cowes.

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