209-213 Settlement Rd - Cowes Plaza 807 - 1,033 SF Condo Units Offered at $386,277 Per Unit in Cowes, VIC 3922

This property features a single ground-floor retail tenancy of approximately 75 m² benefiting from a clear-span configuration suited to a diverse mix of retail or service-based activities. Its fit-out and layout enable ease of adaptation for future tenants, minimizing downtime across lease cycles. Located within Cowes’ principal shopping destination and supported by complementary tenancies, the space benefits from natural footfall streams, easy parking provisions, and direct access from the precinct’s main circulation areas.

Shop 9 at 209-213 Settlement Road offers a premium retail investment opportunity within Phillip Island’s most established commercial precinct. Located in the high-profile Cowes Plaza complex, this property combines location security, strong tenant fundamentals, and a competitive return profile.
The asset delivers approximately 75 m² of internal retail space and is fully tenanted under a newly executed two-year lease with a three-year option, providing consistent cash flow with scope for longevity. Anchored by key operators such as Bendigo Bank alongside reputable local retailers, Cowes Plaza enjoys steady pedestrian traffic fueled by its prime main street visibility and strategic coastal positioning.
This tightly held locality exhibits robust occupancy demand supported by Phillip Island’s vibrant tourism market and sustained population growth, reinforcing the property’s enduring investment appeal. Offering both income certainty and upside in a thriving regional economy, this opportunity is highly suited for investors prioritizing stability and long-term capital growth in a market with limited supply of quality assets.

The property encompasses roughly 96 m² of retail floor area configured to suit a range of merchandising applications. Internally, the tenancy has been maintained to a high standard by the incumbent operator, enabling ongoing service delivery consistent with the retail mix within Cowes Plaza. Positioned within a bustling community environment characterized by complementary service providers and destination retailers, this tenancy provides an advantageous footprint for long-term stability and steady patronage.

This strata-titled retail property offers an outstanding opportunity for investors seeking reliable, long-term income in one of Victoria’s most tightly held coastal commercial hubs. Situated within the highly trafficked Cowes Plaza complex, the premises spans approximately 96 m² and is securely tenanted by a well-established operator who has successfully traded from the location for over a decade.
The property’s investment fundamentals are enhanced by a recently executed lease, commencing in February 2026, with a five-year initial term and two additional five-year renewal options. This structure ensures sustained cash flow and future flexibility, complemented by a disclosed return of approximately 6%. Positioned within the main commercial core of Phillip Island, Cowes Plaza benefits from consistent pedestrian activity, strong local patronage, and its proximity to essential businesses and services.
This offering combines location security, proven tenant performance, and an income profile with resilience, making it a compelling choice for risk-conscious investors seeking exposure to the Mornington Peninsula and Bass Coast region.