· Land Size: Approximately 697 sqm
· Existing Dwelling: 6 rooms, 2.5 bathrooms, 4-car parking
· Monthly Income: Based on 6 rooms at typical weekly market rates.
· STCA Potential: Prescribed accommodation (previously approved), clinic/consulting suites, homestay, or multi-unit development
· Amenities: Bus stops and food outlets (service station) only seconds away; Box Hill Central, Westfield Shopping Centre, and Box Hill Hospitals within a 10-minute drive
This corner block offers multiple pathways for growth:
✅ Hotel/Accommodation – Previously approved for a 10-room hotel. While the permit has lapsed, the precedent has been established and renewal is available to a new owner. Contact me for plans and permit.
✅ Knockdown & Rebuild – Reimagine the site with a luxury residence, business-residence, or multi-unit development (STCA).
✅ Homestay Business – Ideally located opposite Koonung Secondary College, where demand for student accommodation is strong, with rates from $430 per student.
The property’s prime Elgar Road frontage ensures maximum exposure, visibility, and prominent signage opportunities, making it highly attractive for business, accommodation, or residential use.
Opportunities of this calibre in Box Hill North are rare. Whether you’re an investor, developer, Airbnb operator, or entrepreneur, this property provides strong holding income now with significant upside potential for the future.
Rental demand will only continue to rise.
Contact our office today.
