Resorts and plazas, huge real estate opportunities on Phillip Island

Five-star resorts and shopping plazas have hit the market on Phillip Island calling out for investors to strike quickly. Find out how you can get involved.

If you’ve ever dreamed of owning a five-star resort in an award-winning tourist town this could be your chance.

Cowes Plaza:

The Cowes Plaza is on the market.

The precinct comes with established shops, a bank, residents, office space and a car park.

It is described as being a “fantastic opportunity for an entrepreneur” with a great blend of commercial and residential spaces in the complex.

It is “conveniently” located in the heart of Cowes and features 35 private on-site free car parks and eight off street parking, making it an attractive spot to shop and live.

This “fantastic complex” houses a Vinny’s, Vietnamese restaurant, hairdressers/beauty salon, professional office suite and Bendigo Bank.

“Cowes Plaza is ready for a new owner to make it the go-to destination for all of your shopping and dining needs,” the listing reads.

Another selling point is the “modern functional kitchens in all of the upstairs apartments, as well as the private large balconies and alfresco areas, offer residents comfortable and functional living spaces”.

The property is currently fully tenanted.

Ventnor Accommodation:

A five-star quality resort is for sale on Phillip Island.

Only 500m from the beach, Ventnor Palms, boasts private and shared rooms, each with their own bathroom.

The “thriving” business has a “relaxed atmosphere” which makes it the perfect boutique accommodation for weddings, functions, family groups or corporate retreats.

It has all the amenities of a five star resort, including a gym, pool and spa, and tennis courts.

It is opposite a bush reserve with tame wallabies and koalas, and has plenty of room for on site carparking.

It is in a prime position with loyal return customers.

The listing is asking for $3,800,000 for the business and the property.

Island Cove Villas

If you’ve ever dreamt of owning a five-star resort in an award-winning tourist town this could be your chance.

The intimate plot of villas is known as Island Cove Villas and is set over 10,000sq m of “stunning gardens” which has been “cleverly designed to impress”.

“Perfectly positioned close to all the major Island attractions, owning this successful gem makes all the sense in the world if you are looking for a great lifestyle,” the listing reads.

It caters for up to 56 guests and is ideal for family holidays, reunions, couples retreat, conference meetings or club gatherings.

The property can now cater for weddings, celebrations, health groups and more since completing the new function area.

Described as an “intimate paradise” set among palm trees it is “easy to maintain” with “landscaped gardens”

“With easy upkeep in mind, the owners have cleverly designed the outdoor spaces allowing more time to enjoy the luxuries of life with the use of the right equipment,” the listing reads.

It also comes with the opportunity to “expand and capitalise, continuing with the going concern while enjoying the many benefits the current owners have enjoyed over the past five plus years”.

The listing suggests it is “easy to run” as a couple with the help of a cleaner, if desired.

The “beautiful” pool area is a favourite with guests at the resort and boasts two heated salt water pools, a pool lounge, cabanas, shady areas, and lush lawns.

The accommodation facilities are only 14-years-old and include eight fully self-contained villas offering their own under roofline carport and outdoor lawn and garden areas.

Each villa is freestanding and well set apart from the others, the sandstone look Villas include four two bedroom Villas of 12sq, two bedroom Spa Villas of 12sq and two three bedroom Villas of 13sq.

They have recently refurbished with new furniture and furnishings.

The “magnificent” two-storey main residence boasts 40sq of living and offers an extra opportunity to earn an income on its own.

It has five bedrooms, the main being a huge retreat with walk-in robe and ensuite, three bathrooms, two living areas plus an impressive great size theatre room.

The kitchen is an “entertainers dream” with a 110cm freestanding dbl commercial oven and hotplate, granite benchtops and ample cupboard space. The open-plan dining area allows for a minimum 12 seater table perfect for special occasions or group bookings if you choose to add the home to the holiday letting pool.

A separate building currently used for reception is ideal to convert to a 1 bedroom villa with an opportunity to add more villas (STCA) and Glamping tents by the pool or front lawn.

All only a straight 950m easy walk to one of the best swimming beaches on the island.

Old Indian restaurant:

The old Indian restaurant on Thompson Ave has closed down and the building has hit the market, leaving an “amazing restaurant space” empty.

It spans a “very generous” 250sq m and has the “perfect main street exposure”.

The building will have access to an “abundance of foot traffic and six carparks available to ensure customers can come and go with ease”.

“This is an ideal opportunity for a business to take the leap and open its doors with a well known address,” the listing reads.

It is looking for someone to “breathe new life” into the space and is being listed for $975,000.