Indonesian Timber Merchant Pays $24.3 Million For Major Box Hill Office, Melbourne

AN Indonesian timber merchant is understood to have paid $24.3 million for one of Box Hill’s most prominent office buildings.
 
The government leased 883 Whitehorse Road office was quietly sold this week, reflecting a yield of about 8 per cent, based on the suburban office’s annual income of just over $1.98 million.

The 7,237 square metre, 4-level office, with street frontage to Nelson Road and Shipley Street and 244 car park bays is fully leased to the State Government of Victoria.
 
Jones Lang LaSalle’s Robert Anderson, who marketed the building with James Kaufman, declined to comment when contacted by The Age citing a confidentiality agreement. CBRE’s Andrew Dawkins and Justin Clarkson were conjunctional agents.