LJ Hooker Boronia is proud to present a truly outstanding opportunity to secure one of the last substantial parcels of land in this rapidly evolving pocket of Ringwood East. Positioned on the high side of the road and surrounded by quality residential redevelopment, this is an exceptional prospect for developers, investors and land bankers alike.Set on a generous allotment of approximately 1,497 square metres within General Residential Zone – Schedule 1 (GRZ1), the property offers exciting future redevelopment potential (Subject to Council Approval). Whether your plans involve multiple dwellings, a premium townhouse development or simply securing a strategic landholding for the future, opportunities of this calibre are becoming increasingly scarce.Adding immediate value is the existing solid brick residence, comprising three bedrooms and one bathroom. The home has been leased to the same long-term tenant for approximately 15 years, who has expressed a strong desire to remain. This provides the successful purchaser with an immediate rental return while plans and permits are explored.The location is equally impressive. Enjoy a short stroll to the recently redeveloped Ringwood East Railway Station and vibrant village shopping precinct, with East Ringwood Reserve, sporting facilities and popular off-leash dog park directly opposite. Maroondah Hospital and a range of medical facilities are just moments away, while Eastland Shopping Centre, EastLink and Melbourne's extensive freeway network place the CBD and Mornington Peninsula within easy reach. Families will also appreciate the abundance of highly regarded primary and secondary schools nearby.Whether you're looking to develop now, invest for the future or secure a rare large allotment in one of Melbourne's most sought-after eastern suburbs, this is an opportunity not to be missed.