Telstra lists central Box Hill site
Telstra has listed another surplus site expected to wind up in the hands of a residential developer.
The 902 square metre block, 30 Cambridge Street, Box Hill, forms the front section of an exchange.
It could sell for c$4.5m, but this couldn’t be confirmed.
Zoned Commercial 1, the land can accommodate a c12 storey building.
The property is near Deague Group’s Whitehorse Towers, which contains two skyscrapers, the tallest rising 36 storeys.
Last May, Vicinity announced plans to build the suburb’s tallest tower – of 48 levels – on its Box Hill Central holding, not far from the Telstra offering.
Stonebridge Property Group’s Julian White and Chao Zhang are marketing 30 Cambridge St for Telstra, which is represented by Charter Keck Cramer.
Development hotspot
The Cambridge St block forms part of the precinct zoned Box Hill Activity Centre.
Golden Age Group, Longriver and Hexa Group have recently completed projects in the area.
In June, APH unveiled details of a 250-room hotel over 20 floors at nearby 925 Whitehorse Road.
Near there, MAB Corp is marketing a 19 storey apartment complex, Tempo.
Orion is also replacing a former car park opposite Box Hill Institute with a 29 level residential building (story continues below).
“The [Telstra] property benefits from a large 40 metre frontage and immediate access to amenity including the Box Hill train station, Box Hill Central as well as Carrington Rd and Main and Station street retail strips,” Mr White said.
“The site is suitable for residential, commercial or hotel development, and comes with the flexibility of a June 2022 settlement date,” he added.
“The Box Hill Activity Centre has continued to establish itself as one of the most successful suburban development precincts in Melbourne”.
Last month the telco banked $2.2m – more than twice the expectation – for a 705 sqm zoned block within the Springvale Activity Centre, in Melbourne’s south east.
West of town, it offloaded a Point Cook parcel marketed for its potential to make way for townhouses for $751,000.
Recent deals
Last month an investor paid $17.16m for a four floor office at 26-28 Prospect St, also within the Box Hill Activity Centre precinct.
In March, the Chinese Community Social Services Centre paid the Christian Blind Mission $13m for a three storey commercial building at nearby 56-60 Rutland St.
A Box Hill site formerly controlled by international school Canaan also recently traded – 13 Prospect St collected $8.5m from a developer.
Another property once owned by that group, in Box Hill South – the former St Leo’s College – also recently traded, to Golden Age Group.
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