Rare Development Opportunity in The Balwyn High Zone A highly sought-after location in the Balwyn High zone highlights this rare opportunity to construct a luxurious new two-storey home of stately proportions or multi town residences (STCA) on a magnificent property of 1,021sqm approx. with a wide frontage. Capitalising on the capital gains prospects in this highly regarded Deepdene precinct - enhanced by easy access to some of Melbourne's finest private schools, Deepdene/Whitehorse Road shopping and cafes, Balwyn Cinema, recreational facilities, parklands and public transport - all underpinning its excellent value. The property is currently occupied by an attractive Californian Bungalow in excellent if unrenovated condition which could be rented or occupied on a temporary basis whilst a decision on its future is made. The interior comprises entrance hall opening to a north-facing sitting room and adjacent dining, two bedrooms, one with BIRs, bathroom and central kitchen leading to a deck and laundry with WC plus a deep rear garden with double garage. Land size: 1,025sqm/10,986sqft approx. Lot/Plan No: 1/PS740563