50 Thompson Avenue,
Cowes, VIC 3922

FOR SALE BY EXPRESSIONS OF INTEREST CLOSING FRIDAY 30TH JANUARY 2026 AT 2PM

Nichols Crowder are delighted to present 50 Thompson Avenue, Cowes, to the market.

This is a truly rare opportunity to acquire a securely leased retail investment in the heart of Cowes' tightly held main shopping precinct. Owned by the same family for over 32 years, assets of this calibre are rarely offered to the market.

The property is securely tenanted by National Australia Bank, who have recently committed to a new three (3) year lease commencing 1 November 2025, returning $115,324.20 per annum + GST + outgoings (land tax can be collected on a single holding basis).

Positioned on arguably one of the best retail locations on Phillip Island, the property enjoys approximately 10 metres of prime frontage to Thompson Avenue*, Cowes' main shopping strip. The site benefits from both front and rear access (via Warley Avenue) and is strategically located between major national and local operators, including The Reject Shop and O'Brien Real Estate.

Phillip Island is currently experiencing significant growth driven by tourism, infrastructure and community investment. Major projects include the new Phillip Island Community Hospital, upgrades to the Cowes Foreshore Precinct, the Phillip Island Hot Springs (nearing completion), luxury hotel developments such as the Isle of Wight (anticipated completion 2027), and the proposed Phillip Island Sporting Precinct. This growth is underpinned by a projected 37% population increase by 2035.

Key features include:

* Building area: 350sqm*
* Land area: 506sqm*
* 10m* frontage to Thompson Avenue
* Securely leased to National Australia Bank
* New three (3) year lease commencing 01/11/2025
* Net income of $115,324.20 p.a. + GST + outgoings
* Annual CPI rent reviews
* Favourable Commercial 1 Zone
* Future development upside with 11m (3 level) height limits STCA
* Only 600m* from Cowes Beach and Jetty

For further information or to arrange an inspection, please contact the listing agents.

PLEASE NOTE:

* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright.

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