An industrial property in the recently re-zoned suburb of Box Hill has sold off-market to a developer for $5.5 million.
CBRE’s John Micallef, Brendan Wein and Matthew Alessi managed the sale of 1B Boundary Road, Box Hill on behalf of a private client.
Purchased by Isaac Property Developments, Australia’s leading developer of service stations, fast food and childcare, the 20,250sqm corner site is zoned IN2 Light Industrial/E2 Environmental Conservation and had approximately 9,000sqm of usable area.
“This is the fourth block of land CBRE has sold off-market in the Box Hill/Rouse Hill precinct recently, largely due to our understanding of the planned infrastructure for the region and recently updated zoning classifications,” Mr Micallef said.
“We have built our knowledge of this area in order to best advise landowners and developers on how to capitalise on the opportunities presented in this growing area.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
