finance

Box Hill Commercial Developments Encounter Headwinds from Infrastructure Works

Major approvals and contracts advance amid compulsory acquisitions and construction for the Suburban Rail Loop terminus.

By Box Hill Business Desk · Published 25 July 2026

How we reported this

This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. Melbourne Weather News is part of The Daily Network and follows our reasonable editorial care.

Daily Network finance briefing tile, illustration, not a photograph

Vicinity Centres received council approval for the first stage of its $2 billion, 10-year Box Hill Central mixed-use redevelopment, which includes seven towers up to 50 storeys and 1,700 new residences. Golden Age Group appointed Icon as the construction contractor for SKY SQR at 517-521 Station Street. These steps occur while major construction works and compulsory acquisitions of homes and businesses proceed to build the new underground station at the Suburban Rail Loop terminus.

Project Approvals and Contracts

The Box Hill Central redevelopment by Vicinity Centres covers the initial phase of a decade-long plan. Golden Age Group has engaged Icon for the 72,000m² SKY SQR mixed-use project at 517-521 Station Street, which includes a 12,000m² retail and food precinct scheduled for completion at the end of 2025. The former Amcor Packaging Plant at 249 Middleborough Road is being redeveloped into Box Hill Corporate, adding 20,000m² of office and warehouse space plus 6,000m² of bulky goods retail over three years.

Land Transactions and Market Pressures

A Chinese developer purchased adjoining Navy Health and Scope properties for $30.8 million, setting a new Box Hill land record at nearly $12,000 per square metre. This transaction reflects active interest in strategic sites even as the sector contends with the demands of large-scale infrastructure delivery and associated property acquisitions.

Infrastructure Context and Sector Impacts

Box Hill's commercial activity ties directly to its position as the Suburban Rail Loop terminus. Compulsory acquisitions of homes and businesses are underway alongside construction for the underground station. These processes introduce operational pressures for existing commercial operators in affected areas while new developments receive approvals and contractors are appointed.

Developers continue to advance mixed-use schemes and office additions despite the disruptions from station works. The combination of record land prices, staged approvals and fixed completion targets such as end of 2025 for SKY SQR illustrates the practical timelines involved. Further stages of the Box Hill Central project and the three-year Box Hill Corporate redevelopment will test how the sector manages ongoing acquisition requirements and construction coordination in the coming period.

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.