5 Michael Street, Templestowe Lower VIC 3107

Its location is first class, and so too is the generous proportions of the flat 770sqm (approx.) allotment. Combine the two with the blank canvas appeal of this neat and tidy two-bedroom home and it's an opportunity you don't want slipping through your fingers!

Naturally, clearing the block and developing multiple units or Townhouses (STCA) within a short stroll of Macedon Square shops, Ted Ajani Reserve and bus services appears the obvious destiny of this potential-rich property. Yet with excellent access to well-regarded schools, Bulleen Plaza, Westfield Shoppingtown and the Eastern Freeway, one could be inspired to build their dream family home and live happily ever after in this coveted family locale (STCA).

Such is the well-presented nature of the existing single-level home that it could easily be leased whilst plans and permits are being approved or lived in until you're ready to action your development plans (STCA).

Loads of light filter through the collection of large windows and create a positive ambience throughout, accentuated by the high ceilings and light colour scheme.

Gas heating provides warmth to the radiant lounge on entry, while intimate dinners - prepared for in the perfectly serviceable kitchen - will be something to savour inside the charming dining room.

The successful separation between the two spacious bedrooms and living spaces provides a desirable private aspect, and with a huge grassed yard out back, kids have the freedom to play outdoors for hours on end.

In fact, such is the stately size of the backyard that it could also comfortably accommodate a generous extension should you wish to extend the home as the family grows (STCA).

What an opportunity...