Whitehorse Council has sold a Box Hill car park and child care service for $51.8 million to Golden Age developers

WHITEHORSE Council has sold a carpark in the heart of Box Hill’s restaurant precinct for a hefty profit to a developer which already has a large presence in the area.

The car park on the corner of Cambridge Rd and Station St in Box Hill sold for $51.8 million. Picture: Paul Loughnan

WHITEHORSE Council has sold a carpark in the heart of Box Hill’s restaurant precinct for a hefty profit to a developer which already has a large presence in the area.

The carpark at 517-521 Station St and attached to Central Box Hill Children’s Services Centre was sold to developer Golden Age for $51.8 million — or $317,791 for each of the 163 car parks.

The 7344sqm site on the corner of Station St and Cambridge Rd sold for about $7053 a square metre.

Mayor Philip Daw said the outcome would benefit the wider community.

“This is a tremendous outcome for the city and the redevelopment will generate a range of economic and social benefits for the surrounding and wider Whitehorse community and will also add to the employment and economic opportunities for Box Hill,” Cr Daw said.

Golden Age is already selling apartments in its 35-storey Sky One development one block away on the corner of Carrington Rd and Station St.

Golden Age has also begun construction on Victoria One, a 75-storey development in the heart of Melbourne which, when completed, will be the tallest residential tower in the CBD.

“The redevelopment will feature large public open spaces with multiple street frontages, a mix of

commercial and retail spaces, residential accommodation and a 104 place child care facility,” Cr Daw said.

A planning permit and rezoning process is expected to commence this year with final sale settlement occurring upon final planning approval being granted.

“Council’s current public car park at Cambridge St will remain operational for a further nine months after settlement,” Cr Daw said.

“This allows for Council to construct, and have in operation, a new multi deck car park at Harrow St that will provide a net increase in public car parking in this part of central Box Hill.”