House of the Week
3 BED | 1 BATH | 1 CAR
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- 49 Gipps Street, Port Fairy
- $1.5 million
- Agency: Lockett Real Estate
- Agent: Paula Dwyer 0438 681 201
- Inspection: By appointment
Brilliantly positioned overlooking the Moyne River, 49 Gipps Street is a riverside property boasting not only a prime location but dual access. There is a frontage to Gipps Street plus a second access alongside the river.
This large allotment of 621 square metres (approx) features a spacious three bedroom, single-level aluminium clad home that a modern renovation would add to both its appeal and its value.
Built in the 60's the home is as solid as a bell and it would not take a lot of imagination to modernise the home - and possible expand the already sizeable layout.
The home has a light-filled kitchen and meals area which looks to the river, a living room, family bathroom and laundry.
It also has gas heating, split system, single car garage, shedding and a bungalow.
Investors will would be aware that the highest and best value of a property such as this would be either a multi-apartment development (subject to council approval), or to create an elaborate new dwelling taking advantage of the river aspect, and the dual road frontages.
Such a home could be treated as an investment as well as a palatial residence. All services are available and the land gently slopes towards the river to enhance the views.
It is obviously a stunning site in one of Port Fairy's exclusive river front locations. Real estate anywhere near the river is always a guilt edge investment, but Gipps Street itself is both near (or on) the water front and a short walk to the town centre (two blocks).
This new owners of this property will enjoy the luxury of the tranquil water views with a myriad of boats moored at the wharf and the location that all that Port Fairy has to offer.