Taking The Package In Box Hill
The Age
Saturday October 2, 2004
912-918 Whitehorse Road, and 1-15 Market Street, Box Hill
The recent extension of the 109 tram route to central Box Hill has added significantly to this suburb's rise as a retail and office hub in Melbourne's east and could raise the fortunes of Box Hill Arcade.Located at 912-918 Whitehorse Road and 1-15 Market Street, Box Hill, the 980-square-metre, single-level building accommodates 17 retail tenancies. Box Hill Arcade has a site area of about 1115 square metres with a 24.8-metre frontage to Whitehorse Road and is zoned Business 1.It is adjacent the newly refurbished Centro Whitehorse and provides extensive retail frontages to Whitehorse Road and the Market Street Mall. The tenancies are a complementary mix, including a chemist, medical suite, optometrist, computer store, travel agent, take-away food outlet, grocer, hairdresser, shoe repairer and fashion store. The current rent provides an annual income of $450,620 per annum, excluding outgoings and GST.Knight Frank selling agent Steve Bolton calls this property "17 investments in one, with immediate passive income and long-term gain and growth with its strategic location", and praises the location as a "strong retail and commercial precinct".It is being sold by Knight Frank by tender campaign closing Monday October 18 at 3pm at the offices of the City of Whitehorse. The property is expected to sell for more than $5.5 million.For more information, contact selling agents Steve Bolton or Darren White on 9602 5722.
© 2004 The Age