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15 6 E l g a r Roa d , B o x H i l l S o u th FO R S A LE BY E X P R E S S I O N S O F I N T E R E S T C LO S I N G T H U R S DAY 2 7 T H F E B R UA RY 2 02 0 AT 2 P M
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Contents 5. Executive Summary 6. Location 10. Property Particulars 11. Project Development Summary 14. Existing Improvements 15. Development Options 16. Lifestyle 19. Method of Sale
Introduction Aston Commercial are pleased to offer 156 Elgar Road, Box Hill South for sale by Expressions of Interest closing Thursday 27th February 2020 at 2pm.
Suiting builders and developers, this is a fantastic opportunity to acquire this permit approved mixed-use development site in one of Melbourne’s most popular eastern suburb locations. Positioned amongst a thriving local shopping village and overlooking the beautiful Wattle Park and neighbouring Golf Course this site ticks a number of boxes. Also benefiting from its central location to a number of prestigious schools, Deakin University, public transport options and shopping centres, this is an opportunity not to be missed. Aston Commercial highly recommend this property for your serious consideration.
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Situated in the heart of the Wattle Park Village this property benefits from its immediate access to Public Transport, Deakin University and Box Hill Central.
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Executive Summary Property Address
Land Area
156 Elgar Road, Box Hill South
A rectangular allotment of 722 sqm*
Description
Zoning
A dual fronted park facing site which currently consists of a small Commercial Shop and single level Residential dwelling
Commercial 1 – (C1Z)
Planning Permit
Terms of Sale
Construction of a 5-storey building with basement for 21 dwellings and a retail shop
10% deposit with the balance payable upon settlement in 60-90 days
For Sale via an Expressions of Interest campaign closing Thursday 27th February 2020 at 2pm
Talk to Us
Liam Rafferty
Jeremy Gruzewski
0421 886 655
0422 211 021
liam@astoncommercial.com.au
​j eremy@astoncommercial.com.au
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Location Wattle Park Some nearby businesses and infrastructure includes:
- Box Hill Central - Burwood One Shopping Centre - Camberwell Junction
- Deakin University - Box Hill Tafe - Wattle Park Primary School - Kingswood College - Presbyterian Ladies College - Mount Scopus Memorial College
- Wattle Park - Gardiners Creek Reserve - Surrey Park - Box Hill Golf Course
- Tram (Route 70) - Bus (281, 767, 768) - Surrey Hills Train Station
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Melbourne CBD
Tram (Route 70)
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Box Hill Box Hill Institute
EL
A RIVERSD
8
LE R O A D
G
AR
RO
AD
Suburb Profile: BUY Median House Price $970,000 Median Unit Price $690,000 *Source Realestate.com.au
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Property Particulars Title Particulars
Land Area & Dimensions
The property is contained in the following
Elgar Road Frontage:14.33 metres *
certificate of title:
ROW Frontage: 48.77 metres * Rear Boundary: 15.91 metres * Total Land Area: 722 square metres (approx.) *
VOLUME: 10970 FOLIO: 055 Plan of Consolidation 366117Y
Zoning Under the Whitehorse City Council Planning Scheme the land is zoned Commercial 1 – (C1Z).
14.33m
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722 SQM
15.91m
R.O.W
48.77m
Outlines Indicative Only
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Project Development Summary Planning Permit Approved Planning Permit – WH/2013/936/A September 2019 Construction of a five storey building consisting of 21 dwellings, 25 car spaces, a shop and alteration of access to a road in a Road Zone Category 1.
LEVEL
RETAIL
GROUND
Shop 1
LEVEL 1
LEVEL 2
LEVEL 3
LEVEL 4
TOTAL
APARTMENT NO
BEDROOMS
BATHROOMS
AREA SQM
BALCONY SQM
CAR SPACE
TOTAL SQM
101
2
2
75
9
0
66
1
84
102
2
1.5
69
103
1
1
53
9
1
78
10
1
6
104
2
2
105
1
1
66
13
1
79
51
9
1
60
106
1
107
1
1
45
9
1
54
1
45
9
1
54
108 201
2
2
71
14
1
85
2
2
75
9
1
84
202
2
1.5
68
9
1
77
203
1
1
46
8
1
54
204
2
2
61
8
1
69
205
2
1.5
64
11
1
75
206
2
2
63
8
1
71
207
2
1.5
74
8
1
82
301
3
2
97
41
2
138
302
3
2
84
10
2
94
303
2
1
68
12
1
80
304
2
1
69
9
1
78
401
2
2
69
24
1
93
402
3
2
86
12
3
98
66
21
25
1,465
21
66
1,531
2,748
73.13%
APARTMENT NSA
TOTAL NUMBER APARTMENTS
RETAIL
TOTAL NSA (m2)
TOTAL GFA (m2) (EX BALC)
NETT- GROSS EFFICIENCY
(m2)
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12
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Existing Improvements The property currently comprised of a 3 bedroom solid brick residential dwelling at the rear of the block and a single level Commercial retail/office premises at street level fronting Elgar Road.
Lease Details The property is currently subject to a short-term lease over the residential dwelling. (A copy of the lease agreement is available upon request)
Commercial Shopfront This space could be potentially used as a display sales suite for any initiated development
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Other Development Options Whilst the site has been permitted for a mixed-use residential development, there is substantial potential for various forms of other projects (STPA) including:
STUDENT ACCOMODATION With the already approved development envelope over 5 levels, there is extremely strong demand for the conversion to Student Accommodation. This area is increasingly popular among students with leading Deakin University just 750 metres away along with Box Hill Institute of TAFE and a number of prominent private schools. A Scheme for a 71-bed student accommodation project within the current approved footprint is available upon request.
MEDICAL Subject to planning approval the site could work well for a specialised medical centre. The dual frontage would provide flexibility for appropriate patient pedestrian access and potential for underground parking in addition to the strong public parking immediately in front of the property.
CHILDCARE Potential for a boutique childcare development (STPA) that could capitilise on a significant growth sector in what has traditionally been a strong family neighbourhood.
BUILD TO RENT An opportunity to build the existing approved project to be specifically rented out and held in a single ownership as a long term income generating asset.
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Lifestyle This property is situated at the junction of Riversdale and Elgar Road’s in the small shopping village better known as Wattle Park. 16
Approximately 13km’s east of the CBD this is the
Box Hill retail precinct home to numerous Asian
starting location for the number 70 tram which
restaurants, national retailers and a mounting
runs along Riversdale Road through suburbs
residential population.
including Camberwell, Hawthorn then onto Richmond and finishing at Flinders Street Station. It is also extremely close to the rapidly expanding
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Deakin University
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For Sale via an Expressions of Interest campaign closing Thursday 27th February 2020 at 2pm
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Method of Sale
Terms of Sale 10% deposit with the balance payable upon settlement in 60-90 days
Contract of Sale & Vendors Statement Available on request
Inspections
Method of Sale
Strictly by appointment with the exclusive selling agents
For Sale via an Expressions of Interest campaign closing Thursday 27th February 2020 at 2pm
Talk to Us
Liam Rafferty
Jeremy Gruzewski
0421 886 655
0422 211 021
liam@astoncommercial.com.au
​j eremy@astoncommercial.com.au
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
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