18
Retail
+ 1512-14 Thompson Avenue
Cowes vic 3922
Retail
$2,175,000
Office Contact
Barry Plant
Phillip Island
03 5952 5100Triple-Income Investment in the Heart of Cowes
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 significant upside, it's an exceptional prospect for investors, developers, or owner-occupiers looking to make their mark.
On the ground floor, the property features two commercial tenancies. The larger space is currently vacant and offers impressive street frontage, substantial floor area, a rear storeroom, roller door access, and staff facilities. With its flexible layout, it's ideal for a restaurant, café, retail business or creative studio, and perfectly suited to an owner-operator or those seeking a new tenant in a high-demand area.
The second commercial tenancy is currently leased to a long-established restaurant, delivering immediate and stable rental income from day one.
Upstairs, the property offers even more potential with a spacious three-bedroom apartment, accessible via its own private entrance. This level is a true renovator's delight, featuring water views from the lounge and kitchen, a private balcony, and an incredibly rare grassed rear yard – all just moments from the Cowes foreshore. Whether transformed into a quality rental or used as a residence, the apartment adds valuable flexibility to the property.
With mixed-use zoning and a location just steps from the beach, cafes, ferry terminal and shopping precinct, this property combines lifestyle appeal with investment performance. The site holds a strong rental history, genuine scope to increase returns, and the kind of position that rarely becomes available.
Opportunities like this are few and far between in Cowes. Big on space, full of potential, and brimming with possibility - this is a blue-chip coastal asset not to be missed.
On the ground floor, the property features two commercial tenancies. The larger space is currently vacant and offers impressive street frontage, substantial floor area, a rear storeroom, roller door access, and staff facilities. With its flexible layout, it's ideal for a restaurant, café, retail business or creative studio, and perfectly suited to an owner-operator or those seeking a new tenant in a high-demand area.
The second commercial tenancy is currently leased to a long-established restaurant, delivering immediate and stable rental income from day one.
Upstairs, the property offers even more potential with a spacious three-bedroom apartment, accessible via its own private entrance. This level is a true renovator's delight, featuring water views from the lounge and kitchen, a private balcony, and an incredibly rare grassed rear yard – all just moments from the Cowes foreshore. Whether transformed into a quality rental or used as a residence, the apartment adds valuable flexibility to the property.
With mixed-use zoning and a location just steps from the beach, cafes, ferry terminal and shopping precinct, this property combines lifestyle appeal with investment performance. The site holds a strong rental history, genuine scope to increase returns, and the kind of position that rarely becomes available.
Opportunities like this are few and far between in Cowes. Big on space, full of potential, and brimming with possibility - this is a blue-chip coastal asset not to be missed.
Property Features
- Balcony
- Courtyard
- Fully Fenced
- Area Views
- Bath
- Close to Schools
- Close to Shops
- Internal Laundry
- Kitchenette