High demand for townhouse sites near Box Hill South

  • 2022-02-20
A 1,920-square metre site at Chadstone, near Box Hill South, has recently sold at auction for $3.4m.

The double-block boutique townhouse potential development site in Fitzroy Grove was inclusive of permits for up to six townhouses, as well as the potential for city views. The joint offering had been made possible following the purchase in 2019 of 2 Fitzroy Grove for $1,558,000, and the slightly smaller neighbouring block for $1,292,000.

Marketing for the sale promoted its potential for a multiple townhouse development with potential upper level views to the city, as well as its ideal location close to the Jordanville railway station, Riversdale Golf Club, Jordan Reserve, additionally being only minutes from Holmesglen TAFE and the major Chadstone Shopping Centre.

The Chadstone area is also experiencing great demand for townhouse developments. A two-bathroom, four-bedroom executive townhouse sold recently at 3/19 Atkinson Street for $1,187,500.

Auspacific Property also completed a boutique townhouse development in Churchill Avenue in 2019, which offered homes from $1,060,000. Brochure printing campaigns have often been rolled out to promote developments such as these.

Leafy areas of Chadstone and surrounding suburbs with larger infill sites have also been sourced for housing developments, including Burwood's Brickworks site by Fraser Property Australia and the Doncaster site formerly home to the Eastern Golf Club, which was acquired by Mirvac for its Tullamore development.

Golden Age developers also acquired a 1.65-hectare residential site close to the shopping centre, on which there are plans to build 100 townhouses.