Aged care provider buys ex-Best Western
An ex-Best Western in Melbourne’s east has sold to a Queensland-based aged care developer off-market.
Now the Tudor Box Hill Motel, it is the buyer’s maiden Melbourne property.
At 1101-1107 Whitehorse Road, on the north-east corner of Simpson Rd, beside a small retail strip, the site spans 4120 square metres, with motel rooms, serviced apartments, a restaurant, conference facilities and an indoor pool, gym, spa and sauna.
It had operated as a motel since 1985.
Box Hill, in recent years dubbed Melbourne’s second city given rampant apartment development, is about 14 kilometres from the CBD.
Next chapter for ex-Best Western
Also once trading as the Best Western Tudor Box Hill, the property was refurbished by manager Mark Pelosi in 2011, when 26 serviced apartments were added to the existing 50-room hotel (continues below).
The $18 million revamp replaced older units and added a basement car park and four-storey apartment building
Stonebridge Property Group’s Chao Zhang, Andrew Milligan, Julian White and Lucas Duffy were the agents.
The deal comes three months since realestatesource.com.au reported an offshore investor paid $15.5m for a large-format retail investment at 321 Middleborough Rd, Box Hill South, anchored by Genesis Fitness Club and Legend Billiards Club.
In February a China-based operator paid $30.7m for the hotel component of the Trio mixed-use precinct at 845-849 Whitehorse Rd, Box Hill.
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