This article is from the Australian Property Journal archive
MELBOURNE will have its tallest tower outside of the CBD after mall landlord Vicinity Centres received Council approval for new apartment and office buildings at its Box Hill Central shopping centre.
Whitehorse City Council has given the green light for the ASX-listed shopping centres owner’s $700 million plans to build a 51-level apartment tower and a 25-level office building, as well as a new town square, as it sets about overhauling the 5.5 hectare complex in the eastern suburbs.
Vicinity’s Chief Development Officer, Carolyn Viney, said the proposed redevelopment will transform the heart of Box Hill into a new, world-class destination for Melbourne.
“This exciting project reflects our long-term confidence and investment in Box Hill’s future growth and builds on its existing strengths, including its longstanding reputation as a key destination to visit for fresh food and rich dining experiences.” Viney said.
Looking to improve its portfolio in the challenging retail environment, Vicinity, together with the Gandel family, is also planning a new $200 million office tower in Melbourne’s fashion capital Chadstone, while at the CBD’s Emporium Melbourne it has opened a Genesis concept studio.
It has already started on revitalisation works over the shopping center component of Box Hill Central.
The residential tower will house 600 residents across 366 apartments and include 7,000 sqm of office space and 680 sqm of retail, while the office building will have 47,000 sqm of floor space that can accommodate 2,000 workers.
There will also be 3,350 sqm of new public space.
Box Hill Central sits above Box Hill train station and next to the largest bus hub in the city. The suburb has emerged as a satellite city with numerous high-density projects and the residential population of Box Hill Activity Centre is projected to reach over 21,200 by the end of 2041, representing a 128% increase. It will also soon see APH Holding’s $320 million Wellington Health precinct.
