10/209-213 Settlement Road, Cowes, VIC 3922 | Property Value & History | OnTheHouse
 
FOR SALE

10/209-213 Settlement Road
Cowes VIC 3922

Bedrooms: -
Bathrooms: -
Car spaces: 32
Floor area: 100m2
Land area: 2529m2
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This property is currently on the market
Premium Commercial Investment - Cowes Plaza, Phillip Island
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Property Details for 10/209-213 Settlement Rd, Cowes

Building Type
Commercial
Year Built
2009
Floor Size
100m2
Land Size
2529m2
Local Government
Bass Coast
Lot/Plan
10/PS607847

Last Listing description (August 2026)

An outstanding opportunity to secure a high quality retails investment in the thriving commercial centre of Cowes, the main township of Phillip Island.

Positioned within the popular Cowes Plaza, this well presented retail premises offers investors a rare chance to acquire a securely leased property in one of the Island's most tightly held commercial locations.

The property is currently occupied by a well established tenant who has successfully operated from the premises for approximately 10 years, demonstrating strong business stability and commitment to the location. New lease structure signed in February 2026 provides a 5 year term with a further 5 x 5 year options, ensuring long term income security and flexibility for the future.

Cowes Plaza is a well known retail destination benefiting from consistent pedestrian traffic, strong local trade and excellent main street accessibility. The complex is supported by ample rear parking for customers and staff, together with a strong mix of established retailers, professional services and essential businesses.

With Phillip Island continuing to attract significant tourism and steady population growth, this property presents an exceptional opportunity for investors seeking stable income in a prime coastal commercial precinct.

Investment Highlights:

* Securely leased retail investment

* Established tenant operating for approximately 10 years

* 5 year lease with a 5 x 5 year options

* Attractive 6% return

* Located within the busy Cowes Plaza retail complex

* Excellent pedestrian activity and exposure

* Ample rear customer parking

* Positioned in the commercial heart of Phillip Island's main township

This is a rare opportunity to secure a stable commercial investment in one of Victoria's most recognised coastal destinations.

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Property History for 10/209-213 Settlement Rd, Cowes, VIC 3922

A timeline of how this property has performed in the market
  • 13 Jan 2026
    Listed for Sale $550,000
  • 25 Oct 2012
    Listed for Sale 445000
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About Cowes 3922

The size of Cowes is approximately 20.7 square kilometres. There are 20 parks, covering nearly 6.7% of the total area. The population of Cowes in 2016 was 4839 people. By 2021 the population was 6593 showing a population growth of 36.2% in the area during that time. The predominant age group in Cowes is 60-69 years. Households in Cowes are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Cowes work in a trades occupation.In 2021, 68.40% of the homes in Cowes were owner-occupied compared with 65.40% in 2016.

Cowes has 8,468 properties. Over the last 5 years, Houses in Cowes have seen a -5.10% decrease in median value, while Units have seen a -3.99% decrease. As at 31 August 2026:

  • The median value for Houses in Cowes is $713,253 while the median value for Units is $499,704.
  • Houses have a median rent of $510 while Units have a median rent of $460.
There are currently 100 properties listed for sale, and 29 properties listed for rent in Cowes on OnTheHouse. According to Cotality's data, 269 properties were sold in the past 12 months in Cowes.

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Cotality Copyright and Legal Disclaimers about Property Data

© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.

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