Olde Berwick specials such as this are truly sought after real estate.
The traditional 1/4 acre block (well nearly, it is 984m2) allows for so many outcomes.
One might build the grand home with the pool, or build two excellent size houses with own street frontages (there is a current planning permit in place for such an option) or come up with another outcome yourself, consisting of perhaps three dwellings (STCA).
Beautiful wide block, with substantial existing dwelling, which someone may simply renovate, would allow for a rental return of approximately $300/wk.
Allow your creativity to flourish, knowing that whichever option you choose, your investment is assured.