Real Estate

Cowes beachfront opportunity making waves

Written by The ReReport
As seen in the Source link, written by on 2019-05-22 19:00:00

No. 19, The Esplanade is right on the Cowes beachfront.

Vendors of a rare Cowes beachfront opportunity are looking to ride a wave of developer interest to a strong sale.

The five-bedroom property at 19 The Esplanade, with panoramic water vistas, has entered the market with plans and permits to be developed into 20 apartments.

“It’s a pretty rare permit for the area,” Gross Waddell agent Alex Ham said.

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The Cowes property has approval to build 20 apartments.

The 1186sq m property already has a five-bedroom home on it, ready to move in to.

Just under 2 per cent of Cowes dwellings are classified as flats, units or apartments, according to CoreLogic data.

“Next door there’s a development, but it’s only five apartments,” Mr Ham said.

“There are some hotels on the beachfront, but there’s no other residential development.”

With a price guide of $2.05-$2.255 million, the 1186sq m property has attracted mostly developer interest.

Enjoy beautiful beach vistas at the Cowes home.

The property is listed at a price guide of $2.05-$2.255 million.

“There’s been enough interest to make us think it will sell on the day — the house itself is quite a good house as well, it’s not run down at all,” Mr Ham said.

“You could actually move into the house tomorrow and occupy it.”

The permit is for 10 two-bedroom and 10-three bedroom units.

A central swimming pool at the house.

Just minutes away is Cowes retail and dining district.

The property, which has permits for 10 two-bedroom and 10 three-bedroom units, is just minutes from Cowes’ retail and dining precincts.

The median house price in Cowes is $508,000, according to CoreLogic.

The house goes to auction at on Saturday, June 8 at 12pm.

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