Nestled in a serene valley just a twenty-minute drive from the city lies "Gryphonwood." This picturesque property is bordered by the breathtaking Pipers River, spanning 73 acres of roughly equal parts of workable land, bushland, and a river gorge. The riverfront sections sit at an elevation of 260m above sea level, while the highest vines reach 310m. Once home to Gryphonwood Vineyard, renowned for producing a diverse range of exquisite wines over many years, and now offered for sale, offering a versatile opportunity for various private or commercial ventures (STCA). A substantial portion of the vineyard infrastructure remains intact. The property features a charming four-bedroom family home with a generously sized open-plan kitchen, living, and dining area, this space benefits from a northerly aspect and extends onto a wrap-around front verandah, offering ample opportunities for year-round entertainment. Comprising four spacious bedrooms, the master with walk-in robe and ensuite bathroom, two of the three remaining bedrooms offer generous built-in storage. With access available from both Lilydale Road and Underwood Road, there's additional potential to subdivide the land into smaller parcels, establish short-term visitor accommodation or a cellar door on the cliff (all STCA), which would offer stunning views over Pipers River. Externally there is a single carport plus a huge machinery shed/workshop and storage facility for all needs. Further up the site there is an additional storage shed and other outbuildings. Bordering the river, water is provided by a catchment dam high on the property plus the ability to pump from the boundary river for stock and domestic purposes. Families can relish in the numerous riverfront swimming spots, camping areas perfect for weekend adventures in your very own backyard, and the overall enriching lifestyle this property offers. Underwood is a stunning area of undulating surrounds and a mix of farmland and native bush, only a picturesque 20-minute drive from Launceston's CBD, contact Lochie today to experience the serenity for yourself!