Allison Monkhouse Funerals site in Wantirna South sells to Chinese developer for $10 million

A CHINESE developer has bought a former funeral home in Wantirna South for more than $10 million and could turn it into another apartment complex to rival the nearby 10-storey Kubix development.

The former Allison Monkhouse Funerals site on the corner of Stud Rd and Burwood Highway, Wantirna South, has sold for more than $10 million and will be redeveloped.

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A CHINESE developer has bought the Allison Monkhouse Funerals site in Wantirna South for more than $10 million — and it could be turned into another Kubix-style apartment complex.

CVA Property Consultants commercial real estate agent Daniel Philip said there were more than 100 inquiries “from a range of developers” for the 7610sq m site opposite the Kubix high-rise in Burwood Highway.

Mr Philip confirmed it was sold on July 1 to a Chinese developer, who did not want the exact price, or their identity, disclosed.

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He said the developer — who had also bought other commercial properties in Wantirna South — wanted to build a multistorey complex with a mix of apartments and retail.

“They’re still deciding what to do with the property,” Mr Philip said.

“I believe they’re going to develop it into mixed use with residential floors and retail.

“If you look at what’s across the road, Kubix, it’s potentially going to be something like that. ”

The Kubix development on the corner of Burwood Highway and Stud Rd in Wantirna South is currently Knox’s tallest building. Picture: Lawrence Pinder

The corner site has been owned by Allison Monkhouse Funerals for 30 years.

Mr Philip said the property attracted a lot of interest because of its size, the potential for residential development, and its prime location opposite Westfield Knox and Swinburne University.

“There’s definite demand for that type of stock at the moment,” he said.

Mr Philip said the developer considered the suburb an “up and coming area”.

The site is in the controversial Knox Central area, the section of Burwood Highway stretching from Stud Rd to Scoresby Rd, which Knox Council has vowed to turn into the “capital of the east”.

Work has started on the next high-density residential development nearby at the Knoxia site and plans have been approved to redevelop the old Food Star restaurant into a 94-apartment tower — three storeys higher than the recommended limit — despite 88 objections.

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But Knox Council’s low-rise civic centre, which sits in the middle of the development zone, will remain untouched.

Mayor Darren Pearce said there were no plans to upgrade it.

“It will remain where it is — what happens 20 years from now, who knows,” Cr Pearce said.

Allison Monkhouse Funerals did not respond to a request for comment.