The Lake Cathie property is on the market for $3.95 million.

The prime piece of real estate opposite the lake is expected to appeal to developers.

Harcourts Greater Port Macquarie commercial and residential sales representative Paul Wright said the property had a million dollar view.

“It’s definitely the best spot on the Mid-North Coast,” he said.

“It is a gorgeous piece of real estate.”

The owners purchased and operated the Lake Cathie site in mid-1975 from the original owner/builder.

Back then, it was a general store/Shell service station with seven motel/cabins attached.

They realised the need for more shops as Lake Cathie grew and developed the first four units into shops.

There was a liquor store, butchery, takeaway shop and hairdressing salon.

The owners, in response to a need for more shops, converted the other three units to more lock-up shops.

A clothing shop, antique store, chemist, doctor and other businesses have occupied these shops.

Many of these services were a first for Lake Cathie.

The owners were approached by the newsagent to set up an outlet.

They built the four brick shops which were occupied by a supermarket, fruit and vegetable store, newsagent and the post office. 

Over the years, the shops have housed businesses from real estate to a pizza store, clothing shop and more.

The owners said they tried to encourage people with a dream of owning their own business and therefore resisted duplicating the different types of shops so that everyone could make a living.

They said when the Woolworths development was built, the centre went through some tough times with the closure of the Shell site which had served Lake Cathie since 1965. 

Many of the shops transferred to the Woolworths site and some closed their doors.

Over time, many new outlets have opened servicing both Lake Cathie residents and visitors.

Lakeview Shopping Village sits on 3731 square metres of land.

The majority of the 12 shops have tenants.

Mr Wright said he expected a very high level of interest in the property.

The zoning allows developments such as neighbourhood shops, medical centres and shop-top housing which features residential units located above ground floor retail.