A significant strategic corner landholding at the gateway to the Box Hill CBD with newly-approved plans for 29 apartments has hit the market.

Fitzroys’ Chris James and Ben Liu, in conjunction with Shawn Luo of Property Times, are marketing the 1,595sqm site at 771-773 Whitehorse Road, Mont Albert. The Expressions of Interest Campaign closes Wednesday, 10 September at 3pm.

Interest is expected at around $5 million.

The site is offered with a fresh permit for a five-level development plus basement with 29 large-format apartments and a net saleable area of 3,020sqm.

Existing improvements comprise 5 fully-leased separately-titled units returning a combined circa $10,000 per month.

“This property enjoys the best of both worlds, being located at the gateway of the bustling Box Hill CBD, whilst retaining a quiet neighbourhood feel amongst suburban tree-lined streets with local parks, eateries and public transport nearby,” James said.

“We’re anticipating interest from local developers and those seeking good value.”
Liu said the property is close to one of Melbourne’s most rounded suburban offerings of hospitality, lifestyle and accessibility, featuring Box Hill Central shopping centre, Box Hill train station, the Route 109 tram on the doorstep, hospitals, and education institutions.

“Melburnians are increasingly looking for places to live, work and play and this location offers incredible opportunities,” he said.

“Box Hill has been booming and there is clearly demand for development product here.”

The rectangular site configuration offers efficiency in design and construction and is ideal for immediate development.

Developers can immediately move to make their mark on this location, or can assess their plans for the site whilst receiving a solid income from the fully-leased apartments.