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H I L L
EXPRESSIONS OF INTEREST CLOSING THURSDAY 17TH JUNE AT 3.00PM
CONTE NTS INTRODUCTION 04 EXECUTIVE SUMMARY
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LOCATION 08 PROPERTY PARTICULARS
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LEASE PARTICULARS
13
OVERVIEW OF THE TUDOR BOX HILL
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PROJECT DEVELOPMENT SUMMARY
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SUBURBAN RAIL LOOP
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BOX HILL DEVELOPMENT ACTIVITY
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SALE METHOD
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I NTRODUC TION Aston Commercial are delighted to offer 1101-1107 Whitehorse Road, Box Hill For Sale via Expressions Of Interest closing Thursday 17th June at 3.00pm. This fantastic property is currently operated as The Tudor Box Hill, a significant and well-established motel and serviced apartment complex. This is a family run business and while there is a lease in place there is some flexibility about how this is handled which opens up the potential for a high-rise development. In the immediate Box Hill Central area there have been several recent planning approvals for high density residential apartment buildings with building heights of 20 plus levels that continue to reshape this area. This substantial corner allotment benefits from its proximity to the bustle of Box Hill central without being effected by it. 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. On the doorstep of Melbourne’s largest activity Centre, a precinct that will ignite once more when travel restrictions are lifted. This large property allows for significant redevelopment potential. Aston Commercial highly recommends this strategic property for your serious consideration.
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E XECUTIVE SU M MARY
PROPERTY
LOCATION
1101-1107 Whitehorse Road, Box Hill.
16 kilometres East of Melbourne CBD in the heart of the fast-evolving suburb of Box Hill. Just 1 km from Box Hill Central and train station.
DESCRIPTION
PLANNING
Currently operating as The Tudor Box Hill. This impressive complex is located on a high profile corner with significant development upside.
There is no planning permit in place, but the owners have commissioned a development feasibility that shows 5 levels achieving over 9,000 sqm of NSA.
LAND / BUILDING AREA
ZONING
A rectangular allotment of 4120 sqm.
Residential Growth Zone – Schedule 2- RGZ2.
METHOD OF SALE
TERMS OF SALE
For Sale via Expressions Of Interest closing Thursday 17th June at 3pm.
10% deposit with a settlement of 6-12 months available.
EXCLUSIVE SELLING AGENTS
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Jeremy Gruzewski
Liam Rafferty
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
1 1 0 1 - 1 1 0 7 W H I T E H O R S E R O A D
LO C ATI O N B OX H I L L 3 1 2 8 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.
Well established in Melbourne’s largest activity centres. Immediate access to an extensive public transport network of trains, trams and buses. Easy access to Melbourne’s major road arterials including the Eastern Freeway and Monash Freeway.
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Melbourne CBD
16.2km
Eastern Freeway
3.2km
Box Hill Train Station
1.2km
Box Hill Central
1.0km
Box Hill Hospital
1.7km
Epworth Hospital
1.8km
Box Hill Institute (Nelson campus)
1.5km
Our Lady of Sion College
450m
St Francis Xavier’s School
300m
Box Hill Aquatic Centre
12.6km
“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.”
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PROPE RT Y PARTICU L ARS TITLE PARTICULARS
ZONING
1101-1107 Whitehorse Road, Box Hill Volume 09875 Folio 604
Residential Growth Zone – Schedule 2- RGZ2 • To implement the Municipal Planning Strategy and the Planning Policy Framework.
LAND DIMENSIONS AND AREA Whitehorse Road Frontage: Simpsons Road Frontage: Northern Boundary: Western Boundary:
73.15 metres* 56.39 metres* 73.15 metres* 56.39 metres*
Total Land Area: 4,120 sqm* *Approx
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• To encourage a diversity of housing types in locations offering good access to services and transport including activity centres and town centres. • To encourage a scale of development that provides a transition between areas of more intensive use and development and other residential areas
LE ASE PARTICU L ARS LEASE DETAILS The significant motel and serviced apartment complex is currently owner operated and managed. This provides some flexibility about how the property is offered. Preference for a sale on a walk in walk out basis. There is currently a short term lease in place. • 2 Years commencing 1st May 2020 • $227,272 per annum + GST
• Sale as a Going Concern avoiding GST payment • Ability to continue operation of current business and wait for the perfect development window
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OVERVIEW OF THE TUDOR BOX HILL The Tudor Box Hill opened in April 1985 with accommodation, restaurant and conference room facilities. Over the past 35 years this family run business has built an unrivaled reputation in the eastern suburbs of Melbourne. Various upgrades and extensions over the years have ensured that The Tudor has stood the test of time. In 2005 a major renovation and refurbishment of the Reception, bar, restaurant, conference rooms and all accommodation suites. In 2009 The Tudor expanded to provide serviced apartments as well as hotel rooms. On site, The Tudor Box Hill provides the following services: Hotel rooms x 50 • Standard queen suites x 24 • Twin suites x 8 • Queen spa suites x 7 • Executive spa suite x 7 • Two bedroom family suites x 2 • Two bedroom family suites with kitchenette x 2
Conference / Meeting / Banquet rooms: • Henry room seats up to 120 guests in a banquet style • Regal room seats up to 50 in a banquet style • Edward room seats up to 60 in a banquet style • Anne room seats up to 50 in a banquet style • Licensed restaurant with large windows • Licensed bar and outdoor decking • Indoor heated swimming pool • Leisure centre, gymnasium, spa and sauna • On site laundry • Large commercial kitchen • Spacious outdoor garden and courtyard • Onsite guest car parking Accolades include: • Green Star Accredited-Environmentally friendly • Practices & Accredited Tourism Business Australia. • Finalist 2006 - Leader Business Achiever Awards • Finalist HMAA Awards • 2004 - Best Deluxe Accommodation Winner • 2004 - Best Overall business in the City of Whitehorse • Mayoral award for the City of Whitehorse for corporate citizenship for community work over a number of years. • Best Small business award in the City of Whitehorse
PROJ EC T DE VE LOPM E NT SU M MARY While the continued operation and evolvement of the current business is a real option this prime corner parcel of land is “underdeveloped” when put in context with the evolution of Box Hill into Melbourne’s largest activity centres.
Apartments Levels
5
Net Saleable Area / sqm
9,089
Apartments / Rooms
121
Car Parks
116
No planning permits have been applied for but the owners have sought and obtained development feasibility’s to show the potential of the site. Highly regarded architects, Ellenberg Fraser and Cera Stribley have independently completed studies for both Aged Care and Retirement Living and also Owner Occupier apartments respectively.
Aged Care/ Retirement Living Levels
7
Net Saleable Area / sqm
11,232
Apartments / Rooms
122
Car Parks
115
S U B U R BA N R A I L LO O P Suburban Rail Loop is a city shaping project that will transform Victoria’s public transport system, revitalise Melbourne’s middle suburbs and create a long pipeline of jobs. The 90-kilometre Suburban Rail Loop will link every major rail line from the Frankston line to the Werribee line, via Melbourne Airport, better connecting Victorians to jobs, retail, education, health services and each other. The project will create a long pipeline of jobs and trigger investment and renewal in the neighbourhoods associated with new stations. As a result, there is a valuable opportunity to plan now for the services, amenities and other infrastructure these communities will need in the future. Suburban Rail Loop will be delivered in stages over several decades, with Stage One between Cheltenham and Box Hill to be built first. Future stages will link Box Hill directly to Melbourne Airport.
Learn more: https://suburbanrailloop.vic.gov.au/
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I N K I N G B OX H I L L TO C H E LT E N H A M
BOX H I LL DE VE LOPM E NT AC TIVIT Y Key Facts:
Box Hill is Victoria’s fastest growing metropolitan activity centre outside the CBD,
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
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 mixeduse 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
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• •
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.
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
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SALE M ETHOD
METHOD OF SALE
TERMS OF SALE
For Sale via Expressions Of Interest closing Thursday 17th June at 3pm.
10% deposit with a settlement of 6-12 months available.
INSPECTIONS
CONTRACT OF SALE & VENDORS STATEMENT
Strictly by appointment with selling agents.
Available on request.
EXCLUSIVE SELLING AGENTS
22
Jeremy Gruzewski
Liam Rafferty
Director of Agency 0422 211 021 jeremy@astoncommercial.com.au
Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au
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DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom. *Approximate
