It won’t take much imagination to see the development potential of this site. It currently houses a two storey four bedroom dwelling which has been rented to university students consistently over recent years. It has a renovated kitchen but the bathroom does need some work. So your option is to smarten this up, give it a lick of paint and a few touch ups, and it can continue as is.

Or, with development approval granted for four, two bedroom apartments, you will see this is an absolute bargain buy, given its great location, walking distance to university and sandy bay and an amazing view perched high overlooking Dynnyrne and Sandy Bay at the tip of a cul de sac with no through traffic.

It isn’t often you get such a prime location with great water views and with approval already granted to build. There is a new apartment complex in front on the lower side of the property as well.

There is a Hobart City Council reserve on the southern border of the land, which also will add to the value of your buy.

With the growth in student numbers at the university and the demand in the area for quality rental accommodation, both options that are on the table will be a winner.