Property ID 12715665
SUPERIOR DEVELOPMENT OPPORTUNITYHere lies a unique opportunity to secure a prime development site in the heart of Cowes.
For the astute developer/ investor, all the hard work has been done with plans and current permit to develop the 2025 square metre site into a five level hotel/ residential development with 44 apartments and 90 metres of frontage, the largest permit ever granted in the Cowes area with a rare 8 year permit.
The current plans also include an 80 seat café/ restaurant on the ground level (with 12 metre wide nature strip for outdoor dining) , gymnasium, public toilet area and two underground secure basement car parks for each apartment, a total of 96 car parks.
Additional features include:
. The permit is a rare 8 year permit
. 42 spacious three bedroom apartments with WIR's and ensuites
. 2 spacious two bedroom apartments with WIR's and ensuites
. 4 Penthouse apartments with 4 different configuration options
. Ground floor entry reception office/ concierge to accommodate hotel operations
· Ground level internal secure individual storage areas for each apartment
· Large terraces and balconies overlooking the north facing beach
. Ground level street entry to all ground level apartments with individual back yards
. Total Project Realisation $36 Million
. Ground floor entry reception office/concierge to accommodate hotel operations
. Ground Level Street entry to all ground level apartments with individual back yards.
. Over 90 meters of frontage on the corner with 12 meters wide nature strip which will allow
massive outdoor seating for cafe/restaurant.
Located in one of the most sought-after destinations for tourists with major infrastructure projects currently underway such as the Cowes jetty precinct upgrade and many future developments to come which will help maximise rental returns for purchasers.
The location is truly amazing and only 80 metres to Cowes excellent north facing main beach, newly refurbished jetty precinct, shops, cafes and restaurants.
Enquire now to receive a link to download section 32, depreciation schedules, estimated holiday rental returns, development plans and all other relevant information.
Land DetailsLand area 2025.00 m2