Seaside cottage with development potential

THE Bellarine Peninsula has undergone a huge change in recent times as first home buyers, retirees and investors flock to this unique region, that in the past, was off the radar for home buyers who were looking at the larger coastal towns.

But not anymore, the Bellarine Peninsula property market, which includes the seaside hamlet of St Leonards, has seen significant interest and investment in recent years as buyers have come to realise the potential of this once undervalued region.

This interest has driven the median house price in St Leonards up by 48 per cent over a five-year period, and although this is a significant increase, St Leonards still offers value for money in the coastal real estate market.

Opportunities to enter this market continue to present themselves and Stockdale & Leggo’s recent listing of a great little seaside cottage on a large block offering development potential is a great example of this.

Located at 73 Harvey Road, St Leonards, this immaculately presented seaside cottage features a charming wrap-around veranda and is set on a 753sqm parcel of land with an 18-metre frontage.

Stockdale & Leggo sales consultant Sonja Di Pietro says that St Leonards has flown under the property radar for some time but is now becoming well known for its classic older style beach shack properties on large blocks such as the newly listed 73 Harvey Road.

“This quaint cottage has real charm and features original louvre windows, vaulted ceiling and a charming wrap-around verandah, all adding to its character and unlimited potential.

“A purchaser with a little creative vision and flair could really bring this property into its own, making it an amazing weekend retreat or a much-loved seaside residence,” Ms Di Pietro said.

“Alternatively, it would be a great investment with a terrific long-term tenant that keeps the property in immaculate condition.”

Located within walking distance to the beautiful St Leonards beach and local shops, the home is leased at $520 per fortnight, making it an ideal investment opportunity.

The home is set on an elevated block giving the property fantastic future development potential subject to council approval and features two bedrooms with an open plan living room, functional kitchen and meals area with Coonara fireplace, ceiling fan and air conditioner.

The gardens are immaculately maintained and there is a large shed at the rear of the property for easy storage of boats or caravans.

For more information or to arrange an inspection, phone contact Sonja Di Pietro at Stockdale & Leggo on 0455 506 010.