1/4 The Esplanade Cowes VIC 3922
Property Details for 1/4 The Esplanade, Cowes
Last Listing description (October 2024)
Nestled within Cowes in a captivating waterfront position, this exceptional freehold property presents an outstanding opportunity for entrepreneurs and investors. Boasting a strategic location with fantastic external exposure, this property offers both immediate and long-term value.
Currently tenanted, this property provides a reliable income stream and benefits from its prime waterfront location, which enhances its aesthetic appeal and ensures a steady flow of potential customers. Its positioning in a high-traffic area and close to the main street guarantees visibility and accessibility, fostering an ideal environment for ongoing business operations.
The property's strategic placement amidst accommodations is advantageous for the tenant's business, with a steady influx of guests and tourists contributing to a robust customer base.
With an expansive area of 180m², the property features ample space for creative utilization and customization. It also includes a fully equipped commercial kitchen, which supports various culinary ventures and adds to its appeal as an investment opportunity.
Property History for 1/4 The Esplanade, Cowes, VIC 3922
- 02 Oct 2024Sold for $585,000
- 13 May 2024Listed for Rent $121,368 / year
- 14 Sep 2023Listed for Sale $670,000
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0About 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 7,906 properties. Over the last 5 years, Houses in Cowes have seen a 37.23% increase in median value, while Units have seen a 51.42% increase. As at 31 October 2024:
- The median value for Houses in Cowes is $725,515 while the median value for Units is $553,448.
- Houses have a median rent of $480 while Units have a median rent of $430.
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