Melbourne-based developer Golden Age will test the market with the sale of its award-winning mixed-use development Sky One Plaza in the heart of Box Hill.
Completed by Golden Age Group at the start of 2020, Sky One is the tallest residential tower outside of the Melbourne CBD and combines three levels of premium retail and leisure with 438 apartments.
Designed by DKO Architecture the centre won ‘Best Mixed-use Development for Australia’ in the 2019/2020 Asia Pacific Property Awards.
A best-in-class retail development that defines the skyline of Box Hill
JLL’s Stuart Taylor, Tom Noonan, MingXuan Li and Josh Rutman, together with Stonebridge’s Kevin Tong, Justin Dowers and Chao Zhang have been appointed to handle the Public Expressions of Interest (EOI) campaign which closes on Wednesday 12th October 2022.
The 3,396m2 of retail floorspace in Sky One Plaza is 100% occupied, with a fully leased net income of $3.8 million and a highly attractive 7.8 year WALE.
JLL Director of Retail Investments Stuart Taylor said: “Sky One Plaza offers a highly attractive tenancy mix which has been specifically curated for the local demographic. With 41% of income underpinned by Bank of China and internationally renowned restaurant Hai Di Lao, the asset provides a compelling investment proposition.”
Stonebridge partner Kevin Tong added: “Being almost brand new, this is the first time Sky One has been offered for sale, giving investors a rare chance to acquire a primely located, premium retail centre within the booming Box Hill precinct and become part of Melbourne’s second CBD’s thriving future.”
The 3,396m2 of retail floorspace in Sky One Plaza is 100% occupied
Just one block away from Sky One Plaza, Golden Age Group has plans for a brand-new mixed-use development $435 million Sky Square, which will further complement and expand on the offerings available at Sky One Plaza.
Box Hill is one of the most important growth locations within Melbourne as a designated Metropolitan Activity Centre, one of eleven Health and Education precincts, and the eastern suburbs’ major transport interchange hub.
There is more than $700 million of medical development proposed for the area including 200+ hospital beds and 105,000m2 of medical space creating an expected 10,000 new jobs.
In addition, Vicinity the owner of Box Hill Central shopping centre has proposed a $700 million mixed-use and retail precinct as part of a 10-year masterplan vision.
