Commonly known as the White House, 14 Formby Road in Devonport commands attention with its prominent north-facing position along Formby Road, boasting picturesque water vistas that include the bustling activity of the Spirit of Tasmania and the cityscape of Devonport. This property presents a rare and flexible investment opportunity, as it falls within two zoning categories: Commercial and General Residential. Spanning an expansive 1859m2 (approx.) allotment, the property features a two-story residence, a spacious shed measuring approximately 12m x 7m, and a vacant parcel abutting Wenvoe Street, potentially suitable for subdivision (subject to council approval). The property's historical significance dates back to its construction circa 1900 as a grand manor, later repurposed as a local maternity hospital post-World War I. In 1962, the property underwent expansion and conversion into flats, earning its enduring moniker, the White House. Devonport's strategic location, with the Spirit of Tasmania terminal just across the river and the Devonport Airport a mere 8km away, underscores its appeal for accommodation ventures. The property seamlessly blends elements from different eras, featuring vintage charm from the early 1900s, retro accents from the 1960s, and contemporary updates introduced by the current owners. Noteworthy among these upgrades is the state-of-the-art heating system, comprising two natural gas-fired boilers and nineteen heat panels strategically distributed throughout the house for optimal efficiency. While the property offers considerable functionality in its current state, there remains ample opportunity for further renovation and restoration. Configured to accommodate various living arrangements, the property is currently divided by a timber staircase, with one wing dedicated to accommodation purposes and the other serving as the owners' residence. The accommodation wing comprises two fully self-contained retro fit two-bedroom holiday apartments, each equipped with private kitchens and bathrooms, accommodating up to six guests in each apartment. The upstairs apartment affords splendid views through its bay windows, while the downstairs unit features a deluxe 3-meter-wide high-definition movie theatre. Detailed floor plans are available for interested parties to explore the property's layout. Positioned in the vibrant coastal city of Devonport, Tasmania, this property enjoys proximity to excellent amenities, including the airport and the Spirit of Tasmania terminal, both reachable within approximately 10 minutes. One Agency Collins has systems and procedures in place to verify the accuracy of the information provided, however, clients should rely on their own enquires.