- Development Potential of 16-20 levels (STCA)
- Land area of 920 sqm.
- Lease Expiry December 2022
- Perfectly positioned in the heart of the Box Hill business precinct
This fantastic property is currently leased to Australia’s largest chemist retailer, Chemist Warehouse. There are still a number of years to run on the existing lease but there are no further options which opens up the potential for a high-rise development. In the immediate area there have been several recent planning approvals for high density residential apartment buildings with building heights of 25 plus levels that will continue to reshape this area. The demand for land in the precinct remains strong and in the medium to long term this site will be ripe to be redeveloped (STCA) taking full advantage of its location and zoning.
For now, enjoy the security of income whilst planning for an even brighter future in what is Melbourne’s biggest and fastest growing satellite CBD, Box Hill. Aston Commercial highly recommend this strategic commercial property for your serious consideration.
Remember to mention you found this property on DevelopmentReady.com.au