29 Champ Elysees Esplanade
Coronet Bay, VIC 3984

29 Champ Elysees Esplanade, Coronet Bay offers a unique opportunity to acquire a prime commercial site in a rapidly expanding coastal community. Recognised as one of the most desirable waterside locations, Coronet Bay presents an ideal environment for investment and future growth within this vibrant seaside township.

This property consists of a commercial land parcel with previously approved council plans that have since expired and require resubmission, subject to buyer due diligence. These plans provide a valuable foundation for development, featuring a ground-floor commercial space with excellent shopfront exposure. The design includes a storeroom, toilet facilities, and a kitchenette, making it suitable for a variety of business applications.

Above the commercial area, the plans accommodate a separately leased residential apartment. This apartment is designed with an open-plan kitchen, dining, and living area, complemented by a deck that offers scenic views towards Coronet Bay Beach. The residential space includes two bedrooms, a shared bathroom, and a private balcony, enhancing its appeal for tenants.

The dual leasing potential of the commercial and residential spaces creates an attractive investment opportunity, with estimated rental returns of approximately $560 per week for the commercial shopfront and $420 per week for the apartment. This flexibility allows for independent leasing arrangements, maximizing income potential.

Situated in a sought-after and tightly held coastal pocket, this property represents a rare chance to secure a high-visibility commercial site with strong investment credentials. Whether expanding an existing commercial portfolio or entering the mixed-use development market in a high-demand area, this opportunity is noteworthy.

Prospective buyers are encouraged to conduct their own due diligence to verify all details and ensure the suitability of the property for their investment or development goals. The location's growth prospects and the property's dual-use design make it a compelling proposition for investors and developers alike.

Note: While every effort has been made to ensure the accuracy of the information provided, no guarantees are made regarding its correctness. Interested parties should undertake their own investigations to confirm all relevant aspects of the property.