44 Newcombe St 2,476 SF Retail Building Portarlington, VIC 3223 For Sale

44 Newcombe Street presents an exceptional large-format commercial site in the heart of Portarlington’s thriving retail and hospitality strip, offering a rare blend of immediate income security and long-term development potential in one of the Bellarine Peninsula’s most desirable coastal townships.
Occupying approximately 1,134 m² with high-exposure frontage along Newcombe Street, this asset benefits from generous site dimensions accommodating a mix of existing building footprint, open land, and dedicated car parking spaces—ideal for future redevelopment or intensification under its Commercial 1 zoning. The strategic positioning just 300 metres from Portarlington Pier and direct ferry connections to Melbourne supports strong retail and accommodation demand, reinforced by a growing tourism and commuter base.
Currently leased with a strong annual return of approximately $98,536 through January 2029, the property provides holding income while allowing flexibility for future repositioning or phased development. In addition to a booming hospitality scene, this precinct is witnessing significant transformation with high-end developments such as Qudos Portarlington and the Harbour Redevelopment—a testament to the substantial uplift potential this location represents.
This offering appeals equally to investors seeking stability and developers aiming to capitalize on evolving lifestyle trends and coastal growth drivers in Portarlington.