Box Hill apartment development site listed

A 558 sqm Box Hill development site has been listed for sale. It is being marketed as having12 storey development potential (STCA). It has 18 metres frontage to Rutland Road and rear laneway access via Ellingworth Parade. ``The property presents a great opportunity for development within Box Hill’s major activity centre," Teska Carson agent Stephen Speck said. He said Box Hill had experienced exceptional growth over the last decade. ``Box Hill has been arguably the busiest commercial development zone outside of Melbourne CBD and fringe for at least ten years and that growth looks very likely to continue as the city continues to experience strong population growth and demand for high rise apartment living,’’ Mr Speck said. ``The local community is very well resourced and continues to attract new residents and new business," he said. The 558 square metre, Commercial 1 zoned site, will be sold subject to leases on two of the four units returning a current annual rental of $38,682 net.