63 Severn Street, Box Hill North presents an exciting opportunity for astute investors, developers and land bankers to secure a substantial landholding in Melbourne’s sought-after eastern suburbs. Situated just 1 kilometre from Box Hill Central, this north-facing allotment of approximately 1,219 sqm, measuring approximately 25m x 48.8m, features a rear laneway and offers an appealing combination of established rental income and future development potential.
The property currently comprises an existing double-storey brick residence containing six apartments, generating a combined rental income of approximately $10,993 per month, or $131,916 per annum. This established income stream provides an opportunity to generate ongoing rental income while considering the site’s longer-term investment and development prospects.
With its substantial land area, north-facing orientation and convenient location, the property offers scope to explore a range of potential development concepts, including contemporary townhouses, stylish terrace homes or an apartment development. Subject to confirmation of the applicable planning controls, the site may also offer potential for development up to approximately 12 metres in height. Other strategies worth investigating include retaining the existing apartments while developing the remaining land, undertaking a staged development, or exploring the possibility of subdividing the site into two separate allotments, subject to relevant approvals.
The property enjoys convenient access to a range of established amenities, including Box Hill North Primary School, Box Hill High School and Koonung Secondary College, as well as Box Hill Central, Box Hill Train Station, Westfield Doncaster and Box Hill Hospital. Nearby Koonung Creek Trail and Box Hill Gardens further enhance the lifestyle appeal of the area. This combination of education, transport, shopping, healthcare and recreational facilities adds to the property’s appeal for tenants and future residents.
Whether you are seeking an income-producing investment, a strategic land-banking opportunity or a site with potential for future redevelopment, 63 Severn Street offers the flexibility to pursue different investment strategies over time. Substantial landholdings with existing rental income in established metropolitan locations can present compelling opportunities for investors looking beyond short-term returns.
Secure the land. Collect the rent. Explore the potential.
All property details, dimensions and rental figures are approximate and should be independently verified. Development concepts, building heights, subdivision and land-use possibilities are indicative only and subject to applicable planning controls, council approval and any other required permits. Future rental income, development outcomes and capital growth are not guaranteed.
