If you do choose to paint it make sure you sand well then use a stain blocker, followed by an undercoat then the top coats (best spray painted)......a bit of hard work and may not be successful. If all your other furniture is white then you can use this piece as a focal point and dress it up with a large white vase or white framed pictures of varying sizes, you can include a splash of colour with the white to lift the look. You could also buy a piece of white 4-6mm Perspex with beveled edge for the top leaving all other edges as is.

This is very similar to our floor plan (yet to start building) ... same as you we have our backyard to the north, kitchen to the east, dining table in the middle, lounge to the west. And we had the exact same dilemma where to put the couches. We decided on position 1 but in an L shape with a couch along the west wall and north wall. And we will have two arm chairs or ottomans in your couch position 2. We decided on this because it feels more open and didn’t want the TV to be a main focal point. Don’t necessarily want to see the back of the couch either.

I already know exactly will go in the unit. Ideally 3 open shelves high enough for central speaker, AV receiver and PS4. Ok that's what I though, the brown walnut TV unit I posted above won't do it I think despite being exactly what I need in terms of storage and set up with 3 open shelves. I just came across that one which looked perfect, however the open shelves are too short Thanks for your input, this helps a lot I think I will eliminate the brown TV units. At least now I know which color to go for.

HU-624382943's comment about speaker placement is important. As far as quality listening goes (whether you like listening to music seriously or want to enjoy fantastic sound when watching movies, you want the speakers on the narrow wall (pointing towards the set of paned windows), not on a long wall. The challenge, of course, will be to get them sufficiently spaced, since you have the bookcase on the right and the cupboard (with or without doors) on the left, as well as the door to the room itself. (That door looks uncomfortably close to the cupboard doors, incidentally.) Unless you choose to suspend your directional speakers from the ceiling – which could be an option – you'll probably be limited to the width of that central section of wall, i.e. immediately to each side of the TV.