A rare and rewarding opportunity presents itself with this classic home, positioned perfectly close to it all, with a home that has withstood the test of time and affords astute buyers a promising future ahead. Occupying a generous 861m2 (approx.) block, on the high side of the road with a neat street appeal. The proportions and orientation of this property presents an incredible opportunity for redevelopment in the Residential Growth Zone with DDO7 overlay (STCA), whilst also lending itself to a full renovation to create a stunning home or redevelopment with a luxurious new home. Perfectly comfortable and well preserved, the existing home basks in its original character, offers well-proportioned living and dining rooms with high ceilings, three generously sized bedrooms that are serviced by the original bathroom with shower, bathtub, and separate toilet. The kitchen is well equipped and there is also a study. Providing the bones for the new owners imagination, or proportions to develop on the outside, this property also features, gas ducted heating, dedicated laundry, double garage and further off-street parking. Offering position and potential, whatever you choose, this is a fantastic opportunity in the growing locale of Lilydale. Well located, just a short stroll to Lilydale Main Street cafes, restaurants, shops and amenities along with quality primary and secondary schooling options. A short drive to Eastland, Eastlink and under an hour to the Melbourne CBD or in the other direction the delights of the Yarra Valley to explore on the weekends.