Perfectly positioned in the very centre of Cowes, this standout mixed-use property presents a rare and exciting opportunity to secure three independent income streams in one of Phillip Island's most tightly held locations. Offering both immediate rental return and outstanding potential, it's an exceptional opportunity for investors, developers, or owner-occupiers ready to capitalise on a unique coastal address.
On the ground floor, the property comprises two commercial tenancies:
The larger space is currently tenanted until Easter, boasting prominent street frontage, a generous open-plan layout, spacious rear storeroom, roller door access, and staff facilities. With its flexible configuration and prime exposure, it's perfectly suited to a restaurant, café, retail venture, or creative studio . Ideal for an owner-operator or investors seeking a new tenant in a high-demand area.
The second tenancy is securely leased to a long-established local restaurant, providing stable rental income from day one.
Upstairs, a spacious three-bedroom apartment offers even more potential. Accessed via its own private entrance, the residence enjoys water views from the lounge and kitchen, a private balcony, and an exceptionally rare grassed rear yard, all just moments from the Cowes foreshore and right on the main street!
Ready for renovation, it's an exciting opportunity for those looking to create a quality rental, holiday accommodation, coastal residence, or to transform the apartment into office spaces. The apartment is also well positioned to be easily converted into office space, adding further flexibility to this already versatile property.
With mixed-use zoning and an unbeatable location just steps from the beach, cafés, ferry terminal, and main shopping precinct, this property combines lifestyle appeal with proven investment performance. It offers a strong rental history, clear scope to increase returns, and a premium position that rarely becomes available.
Big on space, full of potential, and brimming with opportunity, this is a standout coastal asset not to be missed!
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