Pace out the proportions of this generous land, (7299sqft/678sqm approx), look at the proximity to shops and the stations (just a few blocks in each direction), factor in the charm that’s already here and capitalise on College zone benefits.
Retain the original, revive its interior and work with a 3-bedroom, up to 2-living zone floorplan comprising gas-heated lounge and dining rooms, an eat-in timber kitchen with meals plus a handy 2nd WC in addition to the family bathroom.
Take advantage of this premier site (residential growth zone 1) and develop to maximise value with potential to go up 4 levels (subject to Council approval).
Alternatively, keep this substantial block to yourself and be the envy of your neighbours when you build your own dream home design with a double garage, gardens, a pool and play space.
Maybe even look to the rental value in the existing home and reap the short-term rewards whilst you start planning.
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