Boasting Absolute Water Frontage (mean high water mark), this magnificent 15.77ha (approx. 40 acre) property has an original old 3 bedroom weatherboard cottage (circ. early 1900's) requiring major renovation - comes with a fully approved development application to rebuild into a stunning 4 bedroom home (full DA & plans available on request). This sundrenched property enjoys amazing 180 degree water views over Pambula Lake and the surrounding National Park. Approx. 4 acres of pasture fronting the lake and home which is positioned on the point (locally known as Yellow Point), the balance of the gently sloping land rises to a ridge and then drops to the Princes Highway frontage at the rear. The property is diverse ranging from its waterfrontage to open pasture, waterfront tee tree, to open eucalypt forest to ferns and enormous "old growth" forest. Frontage to the Princes Highway and Hardakers Road (sealed), with power connected and town water, plus a new septic system installed giving the DA approval substantial commencement status. The "Mean High Water Mark" lake frontage means that a jetty and boatshed can be build (STCA). This means that you potentially can take advantage of the ocean access via Pambula River - yachts and quite large vessels can access the lake via the river. The fishing is fabulous, abundant birdlife and Pambula Lake is renowned for its oysters. Pristine ocean beaches are just 5 minutes drive away, the property is just 10 minutes from Eden or 15 minutes to Merimbula airport (daily flights to Sydney and Melbourne)