Strength Shown in the Box Hill Commercial Market

Dean Alexander and Stephen Gorman of Gorman Commercial sold 406 Elgar Road, Box Hill at auction. The corner property comprises a Residential Growth Zoned land area of 676 sqm with a combined frontage of 53 metres. Previously used for medical purposes, the property is occupied by Ambulance Victoria and has been in the same family for over 40 years. Auctioned on Tuesday in front of a large crowd, the property sold under the hammer following multiple bids for $1,800,000. The purchaser is a medical specialist looking to upgrade and occupy the existing building. Dean Alexander of Gorman Commercial said, “The extremely strong result of $2,662 p/sqm reflects the continuing strength of the Box Hill market.”