212 Coleraine Road, Hamilton VIC 3300

Historic landmark | industrial-zoned corner block | dual-living configuration | established restaurant legacy | high-profile roadside position The property’s strongest buying case is its dual-income potential from a self-contained unit, combined with a rare industrial zoning that permits residential, commercial, or hospitality use. The five-bedroom layout, with the unit offering two king-sized bedrooms and open-plan living, allows for immediate rental income while the main house is renovated or held. The historic farmhouse, with its iconic green roof and tiled verandah, provides a unique point of differentiation in the Hamilton market, making it ideal for creative buyers or hospitality operators seeking a high-profile corner site. The established gardens and mature hedging offer privacy, offsetting the roadside exposure. The primary risk is the industrial zoning, which requires Southern Grampians Council approval for any change of use, adding time and cost to commercial or hospitality plans. The property last sold in 1990, and limited recent comparable sales data makes valuation uncertain, though the price guide reflects a discount for the zoning complexity. The secondary unit’s bathroom/laundry dual-access design is functional but not premium. Opportunities include leveraging the restaurant legacy for a boutique hospitality venture or holding the unit as a steady rental while renovating the main house. This property is best held as a long-term hybrid investment, with the unit covering holding costs and the main house offering future redevelopment or lifestyle value.