Shipley St: Box Hill Panels site up for grabs, could become 12-storey high rise

Developers are set to swoop on the site of a panel beaters in the heart of Box Hill, which could be one of the suburb’s last prime redevelopment sites.

The site of Box Hill Panels in Shipley St is up for sale, with predictions a new high rise will eventually be built there. Picture: Box Hill Panels website.

A longstanding panel beaters in the heart of Box Hill could make way for another high rise.

Real estate firm Teska Carson is selling the site of Box Hill Panels on Shipley St, which is expected to fetch a price tag of close to $7.5 million.

The 1013sq m site is 150m from the Box Hill Central shopping precinct to the north, and a similar distance to the Box Hill City Gardens to the south.

According to its sale listing, it has mixed use zoning and room for a development at a preferred height of 12 storeys under Whitehorse Council’s 2036 Box Hill activity centre masterplan.

Teska Carson sales executive Stephen Speck said the firm had received early interest from a handful of Melbourne-based commercial and residential developers since the site went on the market a week ago.

Mr Speck said the new site owners could expect to receive $123,000 in rental income per year from the panel beaters, which was believed to have been at the site for more than 30 years.

“There’s not too many blocks over 1000sq m left in Box Hill, especially in this type of proximity to services, and you’re not sitting on main thoroughfare,” he said.

“It’s in a great position … and it’s going to be a great site whether its for an office or a residential development,” he said.

Mr Speck said the buyer would potentially have to wait a couple of years to begin their new project due to planning requirements and a demolition clause attached to the site.

He said expressions of interest closed on November 11 and the agency hoped to finalise the sale shortly afterwards.