I wouldn't put anything above the TV. I'd consider replacing the mirror above the fireplace with a large, vibrant artwork so that the TV isn't the focus. Repainting the TV cabinet a different colour might be another option as the white cabinet blends into the white walls which really makes the black TV the focal point of that corner.

After seeing your before/after photos in your [kitchen thread[(https://www.houzz.com.au/discussions/kitchen-reno-ideas-suggestions-please-dsvw-vd~3651370?n=11) I thought I'd bump this thread. I have a better idea of the whole space now. Have you had any more ideas of what to do? I think by cladding the whole surround and wall above could have big impact and modernise so it ties in with your new kitchen. Also give some balance as it sits alongside the glossy black bench. If you like the warm of timber, you could clad running the wood horizontally. This final photo is cataloged as a transitional look but same idea with cladding all the way up. ETA: That artwork would look great on a dark grey backdrop.

Great space to work with! As you know the best way to proceed is very subjective. It would suggest making it more personal than simply adding mirrors. Mirrors add a sense of depth to a space but it looks to be an already large space. Why not add a really lovely large painting above the fireplace (keep in mind there will be a bit of smoke regularly surrounding the painting). Then design or select wallpaper for the two nooks on each side of the fireplace. Then hang framed and non-framed items that have meaning to the family. Play with the scale of the items and think of each section as an exhibition of your family with large and small images, framed items (metals or ribbons and tapestries etc.). It will really depend on the items you have. Another ideas is to start a collection such as artworks of fruit/still life artworks from a few visits to antique shops. Keeping them beautifully framed is key to maintaining a sleek, timeless and elegant look.

I have attached a new layout, taking into account the new, and important information. I would move your lounge to the wall where spinning wheel is. Move spinning wheel to corner window. Swap tall buffet with lower buffet. Put small chair in corner where television is. Take the two large lounge chairs out completely. They are too bulky for the space. Replace with two high back chairs in your wonderful teal colour. Add a round gold table for chairs. Then these could be used to watch television. But look wonderful when people are entering this space. The lower buffet will be behind these chairs, therefore the teal will stand out against the rich wood tones of buffet. You have unique pieces, people should be able to see them at their best.