Global New Developments
Juwai Commercial
Juwai LUXE
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Jones Real Estate is pleased to present 6-12 Warley Avenue, Cowes to the market For Sale via Expressions of Interest closing Wednesday 31st May 2023 at 12pm.
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. Immersed within the heart of Cowes, this is an exceptional opportunity for developers to make their mark in a rapidly evolving coastal hot spot.
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*.
- 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.
- As of the year ending June 2019, Phillip Island saw 2.5 million domestic and international visitors with an estimated visitor spend of $549 million^ and the world-famous Penguin Parade attracted 860,000 visitors. Cowes has also become a hub for motorsports, hosting the Australian Motorcycle Grand Prix and the V8 Supercars event.
- 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 or to schedule a private inspection of the 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.
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* The above information is the average for each state in Australia For more details about loans, please send us an enquiry.
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Disclaimer: Currency shown is based on currency conversion, please refer to actual currency price of the property.
