This is a fantastic opportunity to live in the heart of town in a beautiful 155 year old character home with the unique ability to run your business from the backyard. A large industrial workshop and machinery shed of approx. 144 sqm offers separate and private access from the home. The large 1,110sqm corner location has access from both Urquhart Street and Wood Street allowing for great flexibility and an instant passive income stream, an ability to work from home or a hobbyist looking for ample storage. This is an extremely rare find. The Federation style home has been tastefully updated for today's comforts. Sitting on Bluestone foundations, the home features original detailing such as 12 foot ceilings, cornice detailing, double hung original windows, and original open fireplaces. Offering two lounge rooms, four large bedrooms all with built in robes and the main bedroom offering a luxurious modern ensuite bathroom. Positioned at the rear of the home is a central family bathroom and updated contemporary timber kitchen with a nod to the past whilst keeping the home's heritage feel. There is a large laundry, ample storage and ducted heating throughout. Outside there is a large undercover entertainment deck along with a landscaped rear garden and charming front cottage garden. The golden opportunity of this property awaits behind the fence of the house yard. At the rear of the property accessed via a gate, with frontage to Woodend's Industrial precinct on Urquhart Street is a large 144sqm shed with three phase power, separate office, toilet and storage room attached. Zoned Industrial 1, the site offers enticing and versatile options, retain the property as a beautiful family home or repurpose the building as consulting rooms/offices. With endless options for industrial development uses, you could use the land as; self-storage, multiple factories/workshops, car wash, or any myriad of industrial options. (STCA) Well positioned within Woodend's commercial and industrial precinct, this rarely offered investment opportunity represents so many options in a much sought-after location all within a 5 minute stroll to the thriving township of Woodend and 2 minute walk to medical rooms, primary school and supermarkets.