This article is from the Australian Property Journal archive
DEVELOPER Jeff Xu’s Golden Age Group has further established itself as Melbourne’s satellite suburb Box Hill’s largest private landowner, acquiring a Carrington Road property that gives it five sites spanning 60,000 sqm.
For its latest acquisition, the developer is exploring schemes for a commercial, strata office and retail project, and would follow on from Golden Age’s boutique strata offering at 130 Little Collins in the CBD.
Golden Age said the Carrington Road project will “seek to set a new benchmark for strata offices in Box Hill”.
Meanwhile, Golden Age has launched its leasing campaign for SKY SQR, which will include a three-level retail podium and food precinct with tenancies ranging from 16 to 2,000 sqm.
“A cultural hub designed for a new generation, SKY SQR is a true blend of east-meets-west cultures. The design draws inspiration from traditional European food halls and Asian markets, a nod to famous places such as the Borough Market in London, San Miguel Food Market in Madrid, and Lan Kwai Fong in Hong Kong,” Golden Age said.
It said local government data that shows 75 new eateries opened in Box Hill from January 2021 to January 2023, compared to 52 in Melbourne CBD Chinatown in the same period.
Box Hill’s population is anticipated to grow between 12,700 and 14,000 people by 2036, requiring between 4,000 and 4,600 additional dwellings, according to the Box Hill Metropolitan Activity Centre Structure Plan. Additionally, the plan forecasts close to 63,000 sqm of office space will be required, an additional 27,300 sqm of retail space, and 4,600 sqm of entertainment and recreation space.
Founder and Managing Director Jeff Xu said Golden Age sees itself as a “co-developer” of the suburb, “ensuring every project aligns with the council’s strategic vision and the needs of current and future residents and business operators”.
He said the company’s Hay Street project, to be known as Wembley Hill, will provide become the largest townhouse development of its kind within the City of Whitehorse.
