Welcome to 1 Princeton Place, Templestowe - a rare opportunity to secure a superb 800sqm (approx.) corner block complete with approved plans and permits for two architecturally designed, freestanding townhouses. Perfectly positioned in one of Templestowe’s most peaceful and tightly held pockets, this property delivers the best of both worlds: a beautifully maintained family home today and a ready-to-go development project for tomorrow. Step inside to discover a thoughtfully designed four-bedroom residence that radiates warmth, comfort, and flexibility. The master bedroom features a walk-in robe and private ensuite, while two additional bedrooms are serviced by an updated central bathroom, ensuring modern comfort for the whole family. A dedicated study provides the perfect work-from-home space or quiet reading nook. The formal living and dining zones create elegant settings for entertaining, while the light-filled kitchen and meals area - complete with a delightful northerly aspect, forms the heart of everyday living. Downstairs, a spacious rumpus room offers added versatility, ideal as a family retreat, games area, or media space. Outdoors, the expansive corner allotment enhances the home’s sense of space and privacy, while also unlocking significant future potential.