1 Grout Street, Hampton VIC 3188

There's the coveted corner site measuring 400 square metres (Approximate Title Measurements).

There's the superb location within walking distance to Hampton Primary School, Haileybury and St Leonards Colleges, St Mary's School, Castlefield Reserve, Hampton Station, buses, the beach and the shops, cafés, restaurants, boutiques and supermarkets lining upmarket Hampton Street.

And then there's the substantial scope to pull up your sleeves and update, or alternatively capitalise on the potential to start again and recreate into a luxury new home (subject to council approval). The two street frontages give you the added advantage of fabulous flexibility.

Comfortably liveable for now, the existing three-bedroom, one-bathroom single-level home, featuring living/dining, kitchen/meals and off-street parking for up to two cars, delivers solid bones for a contemporary makeover and/or addition of a second storey, (again subject to council approval).

But if you're looking to develop an architectural masterpiece, then this is an outstanding opportunity that you won't want to miss out on.