1 Griffiths Street

This beautifully renovated three bedroom home is set in a quiet family friendly street and is already established as a popular short-stay holiday rental with an above market rental return. Perfectly positioned for lifestyle convenience with cafes, cinemas, and Charlestown Square shopping centre in easy walking distance and beaches within a five minute drive. Also, just 2km to the city bypass and access to the M1, and easy access to Newcastle and Lake Macquarie. Inviting living/family area filled with natural lightFunctional and spacious kitchen adjoins dining Dining area opens to timber entertainers' deckSpacious bedrooms with leafy outlooksNeat and tidy renovated bathroomBeautiful polished timber floors throughout Alternatively, spanning a generous 1,012sqm block with a 20m frontage this desirable location is primed for multiple uses and all the hard work is done as it is DA approved for five architecturally designed modern two-storey townhouses with strata subdivision. This property's convenient position and R3 zoning allows for a range of opportunities for the savvy investor to reap the rewards of strong capital growth and a high rental yield in Lake Macquarie's growing CBD. The attained council approval includes the demolition of the existing buildings and the construction of 5 townhouses - two x 2 bedroom and three x 3 bedroom dwellings, designed with extra living areas, walk-in robes and ample parking, as well as balcony views over the Sugarloaf Ranges. For developers this is a rare opportunity to build in an established and sought after suburb that's currently in the midst of a range of exciting large-scale public and private investments, including the expansion of Charlestown Square, "The Corner" entertainment and eatery, a regional transport interchange, upgraded cycling facilities, and a range of other targeted strategic area upgrades.