Vicinity Centres Leads Box Hill Commercial Development with Major Masterplan

Vicinity Centres has secured fast-tracked approval for its $1.57 billion mixed-use masterplan at Box Hill Central North. The plan calls for seven towers reaching up to 50 storeys and 1,700 new residences, with at least 10 percent set aside as affordable housing.

Partnership expands commercial footprint

The redevelopment includes a direct partnership with Hub Australia to deliver a 4,100 square metre four-storey coworking precinct. This element forms part of a wider push to increase commercial office space alongside the residential towers. Construction activity at the site coincides with separate state government works on the Suburban Rail Loop underground station, which has required compulsory acquisition of nearby homes and businesses.

Another project at 249 Middleborough Road, known as Box Hill Corporate, is converting the former Amcor Packaging Plant site into 20,000 square metres of office and warehouse space plus 6,000 square metres of retail. That conversion is scheduled to unfold over three years.

Land market signals sustained interest

A Chinese developer recently paid over $30.8 million for adjoining Navy Health and Scope properties in Box Hill, setting a local record at nearly $12,000 per square metre. The transaction underscores continued demand for sites that can support office and mixed-use outcomes in the precinct.

These initiatives collectively point to an expanding supply of commercial floor space in Box Hill. Local businesses seeking flexible workspace can monitor the Hub Australia coworking facility once it opens within the Vicinity redevelopment. Further updates on construction timelines and leasing availability will come from the developers and local planning authorities as works progress.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.