This is an amazingly rare chance to secure a property where location and opportunity meet, and the potential results are what dreams are made of. With the scarcity of homes currently in Colac, this is a ripper!
With a block size just shy of 3000 sqm, potential looms large for a development or subdivision. This would have the ability to accommodate approx 10 townhouses, subject to council approval to add much needed housing stock to our local market. The location is ideal as the site is within walking distance to Bulla's Connor Street operations, the Colac medical precinct and Colac's central shopping district.
There is dual access via both Nelson Street and a side lane leading to the rear. The title contains three crown allotments.
The current period home with so much character is leased out at $375 per week on a periodic lease. This is a wonderful family home which provides land to do as you please.
The red brick home, which is very appealing to the eye, comes with four bedrooms, two bathrooms and open plan kitchen and dining easily leading into the living area. The kitchen features well-kept laminate cabinetry, good bench space and storage and a butler's pantry.
Within the lounge is an inbuilt wood heater with mantle surround, additionally there are two split systems and several ceiling fans.
Three bedrooms, all with built in robes and the family bathroom with shower and corner spa are located on the ground floor. Upstairs you will be greeted by a huge bedroom with ensuite.
Storage abounds, including in the laundry where there is ample bench space.
At the rear of the home is an undercover outdoor area which will provide value for much of the year and a 6 x 12m shed with power and concrete.
This property is ready and waiting for the astute buyer as development opportunities in central Colac like this are getting harder to come by.
