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For sale

6-12 Warley Avenue, Cowes

PERMIT APPROVED COASTAL PROJECT WITH PANORAMIC BAY VIEWS

Jones Real Estate is pleased to present 6-12 Warley Avenue, Cowes to the market For Sale via Expressions of Interest closing Wednesday 6th March 2024 at 12pm (AEDT).

This is a unique and unprecedented opportunity for developers to tap into a vastly undersupplied market in one of Victoria’s most esteemed holiday and residential destinations. The subject property comes equipped with plans and permits that offer breathtaking views of Western Port Bay.

Key features of this development opportunity include:

– Positioned on a prime landholding of 4,053sqm* with 81m* of frontage to Warley Street and only 80m* to Cowes Beach.

– Situated within the first block from Cowes beach and retail strip, with a median house price of $1,135,187.50 (Within a 6 block radius of Thompson Ave in the last 12 months^^).

– Permit approved luxury residential development site for 91 apartments accompanied by 117 car parks, with a total project NSA of 7,540.20sqm*. Designs and drawings completed by the renowned team at Bruce Henderson Architects, together with CHMP approval (letter available upon request).

– Positioned only moments from Cowes Town Center (200m*), which is home to major retailers such as Coles, IGA, Woolworth’s, ALDI, BWS along with a litany of retail and hospitality businesses.

– The property is within 200m* of the major ‘Isle of Wight Hotel’ redevelopment, including 160 hotel rooms together with F&B facilities and state of the art wellness centre which is expected to boost the local economy by $55-76m* per annum.

– Cowes is about to get a tourism boost in 2024. The coastal hotspot is set to shine as the backdrop for renowned television show, The Block’s 20th season. With nine homes nestled on 1.011 hectares, this prime location promises a surge in local economy, offering an exciting opportunity for businesses and accommodation seekers alike.

– Property is zoned Residential Growth Zone – Schedule 2 (RGZ2).

*Approx.
^Corporate.VisitVictoria.com
^^Realestate.com.au – only properties sold with a sold price

For further information of this opportunity, please contact the exclusive selling agents.

Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.

Property Type

Commercial, Development

Address

6-12 Warley Avenue, Cowes VIC 3922

Method of sale

Expressions of Interest

Closing Date

March 6, 2024 - 12:00 pm

Land Area

4053 sqm

Occupancy

Vacant Possession

Price guide

Contact Agent

Map of: 6-12 Warley Avenue VIC 3922

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