FOUR WATTS
STREET BOX HILL
FOR SALE BY PUBLIC AUCTION ON WEDNESDAY 8TH DECEMBER AT 12PM ON-SITE
FOUR WATTS
STREET BOX HILL
CONTENTS 04 INTRODUCTION 06 EXECUTIVE SUMMARY 10 LOCATION 14 PROPERTY PARTICULARS 18 DEVELOPMENT SUMMARY 20 SUBURBAN RAIL LOOP 22 BOX HILL DEVELOPMENT ACTIVITY 26 SALE METHOD
3
INTRODUCTION Aston Commercial are pleased to offer 4 Watts Street, Box Hill For Sale via Public Auction on Wednesday 8th December at 12 noon on-site.
The property offers the best of both worlds with a functional two-level office building and an approved permit for a 9-level apartment building. This offers potential purchasers the opportunity to utilise existing improvements or generate income while planning for an even brighter future. Well, known as the true centre of Melbourne, Box Hill is enviably positioned in the middle of “the world’s most liveable city”. Surrounded by the best of what Melbourne has to offer including a world class medical precinct, established educational facilities, and exceptional connectivity through public transport and road networks. These characteristics have seen double the population growth between 2017-2021 and the mass of projects reaching maturity. 4 Watts Street offers the astute purchaser an opportunity to acquire an exceptional parcel of Box Hill. Aston Commercial highly recommends this strategic property for your serious consideration.
4
The property offers the best of both worlds with a functional two-level office building and an approved permit for a 9-level apartment building.
EXECUTIVE SUMMARY
FOUR WATTS
STREET BOX HILL
THE Best of Both Worlds. Occupy or Develop. LAND AREA
BUILDING AREA
725 sqm*
Existing two level office of 556sqm*
PLANNING PERMIT
ZONING
Permit approved for 50 apartments & 1 ground floor retail shop over nine levels
C1Z - Commercial 1 Zone
METHOD OF SALE
TERMS OF SALE
For Sale via Public Auction on Wednesday 8th December at 12 noon on-site.
10% deposit with the balance payable in 60-90 days from date of sale *approx.
EXCLUSIVE SELLING AGENTS
6
Liam Rafferty
Jeremy Gruzewski
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Existing Permit for 9 level residential development.
LOCATION
BOX HILL 3128
Box Hill is an eastern suburb of Melbourne, Victoria which is approximately 15 km from the Melbourne Central Business District. It is part of the City of Whitehorse which has a population of approximately 176,500 as at 2018. Featuring Melbourne’s largest activity centre, Box Hill features incredible public transport options, a large number of health care facilities, parkland along with a wide variety of both commercial and retail offerings.
10
Melbourne CBD
15km
Eastern Freeway
2.3km
Box Hill Train Station
350m
Box Hill Central
300m
Box Hill Hospital
850m
Epworth Hospital
825m
Box Hill Institute (Nelson campus)
600m
Our Lady of Sion College
450m
St Francis Xavier’s School
650m
Box Hill Aquatic Centre
1.7km
WELL ESTABLISHED IN MELBOURNE’S LARGEST ACTIVITY CENTRES.
IMMEDIATE ACCESS TO AN EXTENSIVE PUBLIC TRANSPORT NETWORK OF TRAINS, TRAMS & BUSES.
EASY ACCESS TO MELBOURNE’S MAJOR ROAD ARTERIALS INCLUDING THE EASTERN FREEWAY & MONASH FREEWAY.
BOX HILL HAS SOMETHING FOR EVERYONE. WITH A THRIVING CENTRAL MARKET, AN ECLECTIC MULTICULTURAL COMMUNITY AND A RANGE OF MOUTHWATERING GASTRONOMIC OPTIONS THAT ARE RENOWNED AROUND THE CITY.
PROPERTY PARTICULARS Existing Improvements
ZONING
The existing building while in modest condition offers a solid platform for owner occupiers or investors to improve the property and generate an income.
Under the Whitehorse City Council Planning Scheme the land is zoned Commercial 1 - (C1Z)
Approximately 556 sqm over two levels with separate access enabling dual tenancies. Well serviced by rear car park for 14 cars.
TITLE PARTICULARS Volume: 03317 Folio: 394 Lot 1 on Title Plan 379204E
LAND DIMENSIONS AND AREA Watts Street Frontage
14.17 metres*
Gatters Lane Frontage
47.51 metres*
Laneway Frontage
15.95 metres*
Northern Frontage
47.50 metres*
Total Land Area:
725 square metres*
*approx.
14
The property is also subject to the following overlay PO - Parking Overlay - Precinct 1
DEVELOPMENT SUMMARY PLANNING PERMIT
DEVLOPEMENT OVERVIEW
A planning permit was issued by the City of Whitehorse for the construction of a 9 level development containing residential dwellings and ground floor office/commercial area with a reduction or car parking requirements.
• • • •
9 Levels 2,863 sqm NLA 29 Car parks 50 Apartments
Permit No – WH/2015/1005
DEVELOPMENT SCHEDULE
RETAIL/COMMERCIAL M2
RESIDENTIAL M2 BALCONIES M2 AREA PER LEVEL M2 FLOOR EFFICIENCY % GFA
EXCL. CARS & BALCONIES
BASEMENT
252
0.00%
Ground
40
EXCL. BALCONIES M2 1 BEDROOM 2 BEDROOM 3 BEDROOM
111
0
2
0
68
487
31.18%
Level 01
355
1
5
0
52
434
81.78%
Level 02
470
2
6
0
75
552
85.17%
Level 03
470
2
6
0
75
552
85.17%
Level 04
412
5
3
0
136
491
83.93%
Level 05
368
4
3
0
84
437
84.32%
Level 06
328
3
3
0
77
400
82.13%
Level 07
308
2
2
1
81
364
84.80%
69
0.00%
Roof
18
STAGE 1
SUBURBAN RAIL LOOP
Box Hill Gardens
W WN
W h i te
h o rse
Ro
ad
St
WILLIA
Market
The new underground Suburban Rail Loop (SRL) station at Box Hill will be one of the busiest and most well-connected stations on the metropolitan network – making it easier and faster to access the area’s thriving retail, education and health services. The station will provide a convenient connection to the existing Box Hill Station on the Belgrave/Lilydale line and will integrate with local tram and bus services – connecting more people to jobs, health services and study opportunities in one of Melbourne’s fastest growing education and medical precincts.
Box Hill Station
SRL East between Cheltenham and Box Hill will be complete by 2035, helping transform our public transport system and delivering enormous social and economic benefits to the local community. A trip between Cheltenham and Box Hill will take just 22 minutes, with locals saving an average of 40 minutes on a one-way trip between SRL East stations. The station will be located in the heart of the Box Hill activity centre, to the north of the existing Box Hill Station. The underground station will have 2 levels and be fully accessible for all passengers via lifts and escalators. Proposed station entrances include a southern entrance at Main and Market streets and a northern entrance at Whitehorse Road.
Indicative only
BENDIGO
SEYMOUR
ECHUCA CRAIGIEBURN
SWAN HILL
MARYBOROUGH ARARAT
Broadmeadows Fawkner UPFIELD
Melbourne Airport SUNBURY
Reservo
BALLARAT
Sunshine Werribee
Find out more at:
SOUTHERN CROSS
CBD
GEELONG
bigbuild.vic.gov.au/projects/suburban-rail-loop/srl-east/box-hill
WILLIAMSTOWN
WARRNAMBOOL
SANDRINGHAM
Che
20
- LINKING BOX HILL TO CHELTENHAM White
horse
Box Hill
Rd
Station
Stre et
Elgar
Rd
KEW
BLACKBURN
BURWOOD High S
SRL Station
Warrig a
MURRUMBEENA N o r th Rd C e ntr
Monash
e Rd
r ve R Rese
SRL Rail Tunnel Alignment – Stage One
BELGRAVE
Burwood BAIRNSDALE ALAMEIN
Underground Station Area
TRARALGON
GlenWaverley
Monash Clayton
eltenham
Stage One
Existing Rail Alignment
DANDENONG
CRANBOURNE
FRANKSTON
Transport Super Hub
PAKENHAM
STONY POINT
Metro Tunnel
y
LILYDALE
Hw
d
s
SRL Underground Station – Stage One
Box Hill
y
ce
Legend
MERNDA
HURSTBRIDGE
Fw
in
SHEPPARTON
Bundoora Heidelberg Doncaster
SPRINGVALE
Pr
CHELTENHAM
Moorabbin Airport
ALBURY
h
MOORABBIN
Cheltenham
d
as
Rd
on
Clayton
SANDRINGHAM B ay R
WHEELERS HILL
M
S o u th
B ur w ood H
wy
Glen Waverley
l Rd
CAULFIELD
y
oir
t
Springv ale Rd
Burwood
B OX HILL DEVELOPMENT ACTIVIT Y VICINITY CENTRES REVEALS BILLION-DOLLAR BOX HILL PRECINCT PLANS Vicinity Centres (Vicinity) has unveiled proposed plans to revitalise the heart of Box Hill’s CBD, to create a bustling new town square and mixed use precinct with new residential, commercial and retail developments, representing a very significant private investment into Box Hill. One of Victoria’s largest private urban regeneration projects, the vision is to transform 5.5 hectares in the centre of Box Hill into a world class mixed-use and retail precinct for more than 6,000 workers and 3,800 residents by 2030. With a landholding in the centre of Box Hill larger than three CBD blocks Vicinity’s vision includes: •
One of the most significant public spaces to be created in suburban Melbourne to date, opening up Box Hill’s town centre with a Spanish Steps inspired amphitheatre, town square and a new extension of Main Street – for hosting events, entertainment, art and music.
•
The creation of new walkways and roads connecting the precinct’s residential, commercial, transport, retail and hospitality offerings to Whitehorse Road.
•
Consolidation of the majority of Box Hill Central’s retail between Main Street and Carrington Road, capitalising on the iconic Asian fresh food market and dining experiences, and leveraging the centre’s location at one of Melbourne’s busiest rail and bus transport hubs.
• A new mixed-use precinct on the land fronting Whitehorse Road with up to 250,000 square metres of new buildings, including: new residences; office accommodation; a hotel; and contemporary retail – all taking advantage of the transport interchange. The proposed regeneration plans will be delivered in stages aligned to market demand with the first three Development Applications including: •
3,350 square metres of new public space featuring a town square, amphitheatre, extension of Main Street and extension of Prospect Street to link with Clisby Court and Whitehorse Road.
• A 25-level, 42,000 square metre commercial office building in the heart of the town centre, next to Box Hill train station. •
A 48-level, 43,000 square metre residential building with 366 apartments, 7,000 square metres of office space and retail on the ground level trading onto a revitalised Main Street.
KEY FACTS
BOX HILL IS VICTORIA’S FASTEST GROWING METROPOLITAN ACTIVITY CENTRE OUTSIDE THE CBD.
22
MEDIAN HOUSE PRICE $1.62M *REIV OCTOBER 2020.
OVER THE PAST DECADE, BOX HILL HAS SEEN THE ADDITION OF MORE THAN 2,790 APARTMENTS, FIVE NEW HOTELS, HIGH RISE OFFICES, AND POPULATION GROWTH FROM 16,480 IN 2006 TO MORE THAN 23,600 IN 2019.
WORLD CLASS EDUCATION FACILITIES SUCH AS BOX HILL INSTITUTE WHICH HAS 3 CAMPUSES LOCATED WITHIN THE BOX HILL ACTIVITY CENTRE AND IN EXCESS OF 40,000 STUDENTS.
A Chinatown Rises in East.
goldenagegroup.com.au
$450m plan in Box Hill A second Chinatown for Melbourne is on the cards under a $450 million redevelopment featuring two high-rise towers. New Chinatown will be part of the Golden Age group’s Sky Village project in Box Hill, which has one of the city’s biggest Asian communities. The proposed Chinese food, retail and cultural precinct will have a 4000 sqm Hawker Hall inspired by the Asian markets of London and New York.
two 18-storey towers with 429 apartments at 517-521 Station St. Golden Age sees the new precinct as an extension of the CBD’s Chinatown, which is the oldest in the southern hemisphere, and linked to Victoria’s 19th century gold rush era. Company boss Jeff Xu said that Sky Village was Golden Age’s third project in Box Hill — an area still ripe for retail and urban expansion. “Box Hill has undergone a period of immense transformation, and it has emerged as a cultural, tourist and economic destination in its own right,” he said. “Holding the crown of Melbourne’s second CBD, New Chinatown will help support and facilitate the continued growth of Box Hill’s city centre, while creating more than 1000 jobs for the local community, and providing a thriving economic, entertainment and cultural precinct.”
An artist’s image of the New Chinatown project by developer Golden Age. Picture: Supplied
An artist’s image of the New Chinatown project by developer Golden Age. Picture: Supplied
Golden Age Group Sky One Towers: Picture: Supplied
A hawkers hall will feature in the New Chinatown development. Pictured is chef Qingyuan Xie at Man Tong Kitchen at Crown. Picture: Alex Coppel
A hawkers hall will feature in the New Chinatown development. Pictured is chef Qingyuan Xie at Man Tong Kitchen at Crown. Picture: Alex Coppel It will offer food styles from various Chinese provinces, while the broader precinct will have Chinese bookshops, health and entertainment outlets. It will feature Chinese architectural elements such as pagodas, floating walkways over water, and winding paths. Overall, New Chinatown will comprise three podium levels in
While about a third of Box Hill’s population is China and Hong Kong-born, Mr Xu said New Chinatown would not be defined by ethnicity. “Taking into consideration the multicultural and diverse community of Box Hill and wider Melbourne, New Chinatown will offer something for everyone,” he said. Also planned for Sky Village is a Chinese language school, Chinese and Western medical clinics, offices, and a childcare centre. The towers have been designed by Fender Katsalidis Architecture, while ASPECT Studios will do landscape design. The development site now has a carpark and childcare centre, and is about 100m from Golden Age’s 36-level Sky One project — Melbourne’s tallest suburban tower. Sky Village is due to be completed in about three years. Mr Xu officially announced the project on Tuesday night at a preview of the NGV’s Melbourne Winter Masterpieces Terracotta Warriors exhibition, which Golden Age is helping to sponsor.
Article from: http://goldenagegroup.com.au/news_page/chinatown-rises-east/ 22 May 2019
23
THE Best of Both Worlds. Occupy or Develop.
SALE METHOD
FOUR WATTS
STREET BOX HILL
THE Best of Both Worlds. Occupy or Develop. METHOD OF SALE
TERMS OF SALE
For Sale via Public Auction on Wednesday 8th December at 12 noon on-site.
10% deposit with the balance payable in 60-90 days from date of sale
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by private appointment with the exclusive selling agents.
Available upon request
EXCLUSIVE SELLING AGENTS
26
Liam Rafferty
Jeremy Gruzewski
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
DISCLAIMER “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom. *Approximate
