The project will add around 20,000 square metres of new office and warehouse space, and around 6,000 square metres of bulky good retail space to the eastern suburb, over the next three years.
To be branded Box Hill Corporate, the project will be undertaken by JF Box Hill Pty Ltd, a construction company affiliated with local developer the Freeman family. JF Box Hill Pty Ltd purchased the 4-hectare site at 249 Middleborough Road off Amcor for a price speculated to be $14 million in December last year.
The development is at the corner of Ailsa Street, and is adjacent to the Bunnings hardware superstore, one of six recently purchased by Sydney-based developer and fund manager Charter Hall for around $200 million.
GormanKelly director Sandro Peluso, who is marketing Box Hill Corporate with Colliers International’s Jeremy Gruzewski, said it has taken about 12 months to finalise plans and obtain relevant permits to build on the site.
He said the Box Hill development would occur in at least 5 stages, with the first stage being about 6000 square metres of strata titled office warehouse buildings. It’s anticipated the bulky goods component of the project, which will have frontage to Middleborough Road, will start being marketed at the end of next year.