This unique property sits on 10 spectacular acres with some of the best views Phillip Island has to offer. The home is situated only a short walk to Smiths Beach, less than 10 minutes drive from Cowes township. A perfect canvas for a tourism or agricultural venture with 270 metres frontage onto Back Beach Road which sees millions of tourists passing the property on their way to Smiths Beach and Victoria's premier tourist destination, the Phillip Island Penguin Parade and Grand Prix circuit. The currently tenanted home features three large bedrooms, one with ensuite and built-in robe, two separate living zones, kitchen overlooking the stunning rural and water views, main bathroom with bath and an outdoor entertainment area with an in-ground pool. Tucked away upstairs is a large attic area, for all your storage needs, conversion into a fourth bedroom or parents retreat, easily accommodating up to eight people. The grounds offer a fully serviced one bedroom double brick unit and a large partially closed in L shaped shed. A studio with large windows is nearing completion catering for creativity and inclusion for yoga, art works and small events. The unit and the shed space are currently leased providing an additional revenue stream. The potential to further develop this property for a tourism venture is endless and would provide the ideal canvas for either a caravan park, winery or wedding venue just for example (STCA). Other features include 3 separate paddocks with 1000 native plant seedlings propagated from Phillip Island seed that have been planted across the entire property, an original shearing shed which could be renovated for a tourism venture, A completed development agreement for a Sewer Mains Extension with Westernport Water, V-line bus stop at the front gate and three-phase electricity transformer on the Northern boundary. Don't miss out on this rare opportunity for the perfect lifestyle change, email or call to arrange your inspection today. Currently tenanted - 48 hours notice required for private inspections.