Former Isle of Wight site for sale in Phillip Island
Just weeks after locals vented their frustration about the former Isle of Wight site laying vacant for more than a decade, the prime Phillip Island block is back on the market. Find out why the owner is selling.
Bass Coast News
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Just a few weeks after locals expressed their frustration about the former Isle of Wight land being left vacant for a decade, the Phillip Island site is now for sale.
Alex Scott and Staff Real Estate Agent Greg Price said the vendor didn’t have plans to develop the land.
“He said that he can’t see himself developing it within the next five years,” Mr Price told The Bass Coast News.
“He felt that such an iconic site was better suited for someone who might want to do something within that time frame.”
The vendor, whose core business is in aged care, has owned the 9-10 The Esplanade, 2-8 Bass Ave property for five years.
“He thought it was a little unfair to keep such an iconic site sitting there when it’s benefit to the community is so much more if it was developed,” Mr Price said.
Locals hope the vacant land is developed into something that everyone can enjoy.
Some suggestions include a water park, boutique hotel, play centre and cafe but others hope the iconic Isle of Wight Hotel is rebuilt.
The property is a mixed-use zone so a planning permit is needed to develop the land.
“If you’re wanting to build a hotel or a multistorey building, it does require a planning permit that would be referred to the Bass Coast Shire Council and possibly the state government,” Mr Price said.
The Phillip Island real estate agent said his team are “really surprised” about the amount of interest the site has generated “so quickly”.
“There’s a whole new focus on regional tourism in Australia and the timing [for the sale] couldn’t be any better.”
The Cowes site is being offered under an Expressions of Interest campaign.
Purchasers have the ability to buy all five titles in one-line or alternatively they can be purchased separately.
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