Opportunity is the keyword here! Built circa 1923 and on the market for the first time in 45 years - this cottage is still in its original condition and ready for a new lease on life. Whether it's a sympathetic renovation using the existing charming structure or a total redevelopment of the site - this is a once in a lifetime opportunity. • 488m2 of land - zoned medium density and some development flexibility • A generous 15 metre frontage • An 8.5 metre height limit (possible 3 stories from rear) • Located in the premium central Balgowlah Village location This property's prime location and zoning allows for duplex dwellings as of right. If your end goal is to live in or own an investment only 100 metres to the centre of Balgowlah village then plan your next investment or home ownership in this prime location. Many of the high finish new semi-detached residences in the immediate area command around $4,000,000 each. There are many options (subject to council approval). If the grand old home is here to stay, get some inspiration from the neighbouring property. Built as a 'pigeon pair' and identical original cottage located next door has been architecturally transformed into a beautiful single dwelling family home. A structural engineer has assessed the original building and the main structure has been given the green light to work with if the original structure is part of the grand plan. If the site is a total redevelopment – bring your architect and put pen to paper. The ideas and options with this site are only limited by your imagination. The existing floor plan and last residential occupation saw this building work as an upper and lower duplex providing income for its current owners for many years. Balgowlah has it all! With its proximity to the beaches and yet still close to the Sydney CBD, the property is located next to Balgowlah's fabulous retail precinct, cafes and restaurants and excellent transport connections to the northern beaches, north shore, Manly village and the city. This property offers a rare chance to build a lifestyle or combine both lifestyle and income in a sought after precinct offering the very best of the Northern Beaches lifestyle. For further enquiries contact John Smyth from The Madison Agency on 0413 058 000.