Activity in Clarice Road, Box Hill South
Dean Alexander of Gorman Commercial has been very active in Clarice Road, Box Hill South over the last few months having negotiated a number of leased deals in the industrial precinct. The sale of 12 Clarice Road, Box Hill South shows the strength of the market despite COVID restrictions in the area with an owner occupier seeing value in the industrial zoned freehold building with the vacant property selling for $1,625,000. The sale reflected a strong building rate of $2,625 p/sqm.
The sale came on the back of nine leasing deals transacted in the street since March of predominantly industrial/ showroom buildings ranging in size from 50 sqm up to 320 sqm. Dean Alexander commented, “Clarice Road is one of the last remaining suburban industrial pockets located close to the city and major road networks with a diverse range of both older and newer industrial buildings in varying sizes. The varied building uses in the street extend from the traditional industrial use to gyms, dance schools, offices and showrooms. Having anchor tenants such as Bunnings, Spotlight and Anaconda in close proximity to the street also add to its popularity. Given all these deals have been conducted under COVID-19 restrictions is reflective of the drawing power of the street.”