Builders and developers, you're invited to check out the potential of this extensive property, boasting a large and flat grand total of 940m2 (approx.). Ideally located in the versatile RGZ1 with a DDO7 overlay, you will quickly realise this is virtually a once in a lifetime opportunity. The level soil screams for a multi dwelling development of new townhouses (STCA), the added bonus of the existing four-bedroom, three living area brick residences could provide a source of income whilst plans and permits are being approved. This is a street that is seeing increasing quality development with younger families and downsizers wanting to position themselves in this popular location leaving this as an investment with solid future potential. Lilydale is thriving and has experienced unprecedented growth in recent times and is continuing to boom. Located roughly 40 kilometres from Melbourne CBD it is an area that provides fantastic lifestyle benefits with its proximity to amenities, outdoor recreational facilities, and easy access to the gourmet delights of the Yarra Valley. This premium development opportunity is just a moments' walk to Lilydale Train Station, the vibrant strip shops and café's that Lilydale has to offer, plus quality primary and secondary schooling options, also providing convenient access to Eastlink, Ringwood and under an hour to the City. Sure to attract the attention of savvy developers ready to reap the rewards of a brand-new development (STCA) on this prime allotment of Eastern Suburbs land, there is no need to look any further.