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.
