A 725sqm site in the heart of the Box Hill Activity Centre has been listed for sale by Stonebridge Property Group’s Julian White and Chao Zhang. The permit approved site for a 9 level, 50 apartment and 1 shop development, will be sold via auction on-site on Tuesday 30th March 2021 at 12:30pm (AEDT).
In addition to the DKO designed permit approval, the property is currently improved with a two-level office building, with space for up to 14 cars, with access from three frontages. These improvements, currently generating short term income provide the buyer with the ultimate flexibility to elect when they chose to develop the site.
According to Stonebridge Property Group, Partner, Julian White, the site is coming to the market at an opportune time for buyers. “We are starting to hear a lot of case studies from developers on success they are having in the apartment pre-sale sector across suburban Melbourne. Apartments at an affordable price point, close to public transport and shops are performing the best and that is exactly what this site offers.”
Director of Stonebridge Property Group’s Asia Practice, Chao Zhang, said Box Hill continues to operate as its own sub-market within Melbourne. “There are a selection of highly active developers and investors that have made Box Hill a strategy with their purchasing, with Box Hill showing some of the highest growth rates for residential and commercial property in suburban Melbourne over the past decade. Given the sites improvements, the property can also be land banked, and receive the benefits for future capital growth.”
The property is for sale via Public Onsite Auction on Tuesday 30th March 2021 at 12:30pm (AEDT).
For further information please contact:
Julian White | 0422 764 137 | firstname.lastname@example.org
Chao Zhang | 0411 625 068 | email@example.com