Iconic Phillip Island resort development site for sale - and it's on the beach

Iconic Phillip Island resort development site for sale - and it's on the beach
Jonathan ChancellorAugust 31, 2011

The Phillip Island site of the fire-destroyed historic Isle of Wight Hotel has been listed for sale. It comes with approval for a nine-storey residential-resort development and has $9 million plus hopes.

The historic hotel played host to Fred Astaire, Ava Gardner and Gregory Peck during their filming of the 1959 movie On the Beach in 1958.

The 1920s Cowes hotel was destroyed in May 2010, after which the hotel's owner, David Gearing, expressed his hope to rebuild.

Its redevelopment was first flagged in the early 1980s. The development application was first approved 2005, with subsequent amendments earlier this year.

There has been a hotel on the main street site since the 1870s.

The 9,197-square-metre site on The Esplanade has been listed through CB Richard Ellis agents Paul O’Connell and Scott Callow.

Offers are due October 11. The marketing says it is for outright sale or the vendor will consider a joint venture.

It has been in the Gearing family since 1982.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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