7-9 Steele StreetCowes VIC 3922
Property Details for 7-9 Steele St, Cowes
Last Listing description (April 2025)
UNDER CONTRACT. This is a rare opportunity to own The CastleVilla By The Sea, a spectacular landmark property just metres from the north-facing bay beach and the lively Cowes shopping precinct. This exquisite residence, lovingly held by the same family for over 30 years, now offers a new chapter for its next owners. Long established with timeless charm and vast potential, The Castle promises endless opportunities for private enjoyment or to continue to evolve the accommodation business.
Set on an expansive 1,286m2 approx. allotment with a significant 35-metre approx. frontage, this six-bedroom, six-bathroom home occupies one of the most sought-after positions on Phillip Island. The Mediterranean-inspired faade, complemented by fully landscaped garden creates an elegant first impression.
Inside, the property boasts a spacious and family-friendly layout. The lower-level features two distinct living areas and a central formal dining room that flows through French doors to a covered outdoor entertaining space with a gabled ceiling. As well as two exceptional ensuite bedroom suites, each with its own private garden view terrace. The well-equipped kitchen, designed for hosting, includes a walk-in pantry, 900mm stainless steel upright cooker, and a commercial dishwasherperfect for those who enjoy catering.
Upstairs, discover three more private suites, each with its own ensuite and outdoor terrace - ideal for holiday rentals or extended family living.
Additional features include two combustion heaters, split-system heating and cooling throughout, a fireplace, a laundry room, a storeroom, two studies, a separate self-contained annex and an artist studio.
Phillip Island is a thriving destination, attracting 1.38 million visitors annually, with 1.178 million overnight stays contributing $838 million in expenditure. The upcoming Isle of Wight Hotel redevelopment, with 160 hotel rooms, F&B facilities, and a wellness centre, is projected to inject an additional $5576 million into the local economy. Cowes has also hosted Channel Nines The Block for its 20th season, with nine residential homes currently undergoing refurbishment and development, further cementing the area's appeal.
The Castle-Villa by The Sea has previously operated as a restaurant, wedding venue, art gallery, and guest house, showcasing the limitless possibilities for this exceptional property.
This is not just a residence - its an extraordinary opportunity to create your own legacy in one of the most desirable locations on the island, with limitless potential in the accommodation market.
AUCTION - Saturday 1st February 2025 @ 2pm on site unless sold Prior
Agent in Conjunction Castran - Lachlan Castran 0475 000 888
Disclaimer: Whilst every care has been taken in preparing the above information, it is to be used as a guide only. Please refer to the appropriate legal documentation to complete your due diligence.
Property History for 7-9 Steele St, Cowes, VIC 3922
- 29 Jan 2025Listed for Sale AUCTION SATURDAY 1ST FEBRUARY @ 2PM ON SITE
- 29 Jan 2025Sold for $1,700,000
- 26 Jun 2024Listed for Sale $2,200,000
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0About Cowes 3922
The size of Cowes is approximately 20.7 square kilometres. It has 20 parks covering nearly 6.7% of 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 8,429 properties. Over the last 5 years, Houses in Cowes have seen a 6.99% increase in median value, while Units have seen a 15.45% increase. As at 30 April 2026:
- The median value for Houses in Cowes is $725,842 while the median value for Units is $531,291.
- Houses have a median rent of $500 while Units have a median rent of $450.
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