Develop, Do-Up or Demolish?

One of the best do-ups we've seen in a while - but what an opportunity to capitalise on! Very tired and run-down three bedroom home on an overgrown section of 1328m2. The position though, is just superb and not-often found, with direct access to the Waitemata. Your choice whether you demolish the house and start again, renovate and improve or explore the possibilities of developing further (with Council approval) - either way, there is a big up-size for someone with an eye for future gains. Motivated seller wants out!!