Perched atop Lilydale, boasting expansive views of Mount Arthur and the undulating hills that surround, 132 Lalla Road unveils a trio of distinct residences, ideal for multi-generational living or tourist accommodations, as one of them is currently utilised. Enjoy the best of both worlds, with idyllic rural country living and multiple income generating short-term stays. Encompassing 35 acres of gently sloping terrain, predominantly covered in pasture, access to the property from Lalla Road unfolds through a sweeping tree-lined driveway and offers breathtaking panoramas of Lilydale, Mount Arthur and beyond. The primary residence, constructed with mud brick and cedar wood, consists of two distinct quarters. Recently updated, the main kitchen features profiled cabinetry and bespoke finishes. Revel in breathtaking views from the living area, spanning both north and east. Above, a loft serves as an ideal space for a home office or additional seating. The bedroom and main bathroom for this dwelling are conveniently situated adjacent to each other. Additionally, connected yet separate from this section, is the master bedroom equipped with its own kitchenette and ensuite bathroom-an excellent choice for a third accommodation within the principal dwelling. Slate floors, timber accents, and stained glass windows provide a pleasing contrast to the natural light streaming in from the north-facing aspect of the property. The secondary independent studio is completely self-contained, featuring its own bathroom, kitchenette, and sitting space. Positioned to capture the advantages of the northerly aspect, this dwelling provides elevated views overlooking Lilydale. Well-suited for extended family and guests, as well as for short-term or long-term letting purposes. Both of these residences are full of eclectic charm, ultimately offering the best of rural living without compromising on luxury. The third residence currently functions as a short-term stay accommodation business, boasting robust historical booking levels and established marketing and booking portals-all of which will be included in the sale. This fully self-contained dwelling consists of two generously sized bedrooms, each offering stunning vistas and built-in storage. The bathroom features a walk-in shower, complemented by a separate laundry for guest convenience. The open-plan design of the kitchen, living, and dining areas ensures ample natural light through the north-facing windows. There are multiple outbuildings on this property, including two separate two bay secure sheds for vehicle storage, a barn for wood, hay, and machinery, and a workshop connected to the one-bedroom studio. A mixture of both pasture and bush, the majority of the land sloping to the north is pasturised, whilst to the south is partly bush with a large dam for livestock. Complete with its own hazelnut orchard, enclosed vegetable patch and a collection of established gardens, this is a truly unique and versatile offering with so much to offer. Capitalise on the continued growth within Tasmania's short term rental market or enjoy the peaceful surroundings of this incredibly positioned property. Situated a mere four minutes from the Lilydale town centre, this location offers a wealth of amenities. Within easy reach are numerous local wineries, shops, cafes, the local district school, medical center, pharmacy, post office and the convenient Lilydale Tavern, all just a short drive away. Bridport is a quick, 35-minute drive, while the city of Launceston is a mere 25 minutes away. Contact Lochie today to register your interest.