YOU can’t believe everything you read in the papers – Cape Woolamai is not going to become the next Byron Bay… thank god!

But reports along those lines should not be dismissed out of hand, however, because houses at Cape Woolamai are indeed hot property and represent among the best investment options on Phillip Island.

The beauty of Cape Woolamai, aside from its close proximity to one of the best beach breaks in the world, is that you don’t have to fight the traffic or endure the 60km/h stop-start run all the way off the island to get to the bridge – you’re already there.

But, adding weight to the view that it’s a sought-after address, there are still precious few houses for sale, coming up to Christmas, in this island sweet spot.

One of the best, however, is located at 48 First Avenue, Cape Woolamai and it’s open for inspection this Saturday, December 4 at 2pm, anchoring your opportunity to take a drive around the suburb, to get a feel for the place.

Here’s a few excerpts from the Alex Scott & Staff report on a house with four bedrooms, two bathrooms, to undercover car spaces and heaps of potential:

Located close to surf and bay beaches at Cape Woolamai, this fabulous home has been designed to suit the relaxed beach lifestyle you’re looking for.

Set on a big sunny corner block with top deck views to the Cape entrance, the home features, on the ground floor, a huge family room with funky retro bar, a large bunk room for sandy kids and guests with an adjoining bathroom.

A door leads from the living area into a cavernous double garage that is big enough for the flybridge cruiser or easily adapts to a games room – break out area or a significant birthday party.

Through the back door of the garage there is an enclosed rear veranda, big enough to store the bikes and stand-up paddle boards or even double as a sheltered space for our fury friends.

An internal timber staircase takes us to the top floor which is all about entertaining or feeding the hungry surfers on their return from an early morning session.

An open plan dining area with space for a big dining table and euro style kitchen with large 900m stainless oven and new appliances.

The large upstairs living area has luxurious leather couches and coffee tables for lazy Sundays. The dining areas and lounge lead out through sliding glass doors onto the upstairs deck that takes you to the huge top deck.

This big space provides the home with a private outdoor area that doubles as a secluded place to sunbake or becomes the ultimate spot for your sundowner G&T’s.

The top floor has a renovated bathroom plus three more double bedrooms.

And there’s a lot more besides. Let your mind wander to big holiday groups, excellent rental returns, potential development in the future (STCA) and more.

Whatever you think, it’s well worth a look.

Space and location is what this holiday or permanent home is all about, featuring this delightful living area on the first floor.

Entertaining is well catered for and there’s more than enough room for guests to stay over or to have a whole second family to stay with space to spare.

This is a huge deck, ideal for sunbaking, barbecuing or a big party.

Enclosed outdoor space for the kids, the dogs and everything else.

Double up. These double roller doors open through to a huge garage and there’s space for another garage at the other end.