Another Box Hill brute emerges from the pack
Panorama Box Hill is shaping as the latest skyscraper project destined for the irrepressible eastern suburb.
Registrations of interest are now being taken for the predominantly residential development which looks set for a major Whitehorse Road land holding. No address for Panorama Box Hill has been given via the project website, perhaps because it's likely 826-828 Whitehorse Road which has yet to receive formal approval from City of Whitehorse.
Lodged during December 2016, 826-828 Whitehorse Road is still going through the planning rigmarole; it is the only Whitehorse Road site capable of accommodating such a large project at planning. Nonetheless the emergence of the Panorama Box Hill website is no doubt designed to test the waters prior to the project's eventual launch.
Peddle Thorp are the architects of choice, creating a "curvaceous design which transcends all design norms. Heralded as the future of modern living in Box Hill, a glass atria allow sunlight and air flow to all residences, for natural healthy living."
During July 2016 Savills agents Clinton Baxter and Nick Peden commented on 826-828 Whitehorse Road's sale.
The sale is a tremendous endorsement of the Melbourne and Box Hill development market placing Box Hill property on a par with land rates being achieved close to Melbourne’s CBD, and demonstrating the development powerhouse that Box Hill has become in recent years.
The intense competition from prospective purchasers reflected an ongoing confidence in what has been a tremendous market in Melbourne generally, and in areas like Box Hill specifically, over the last few years.
The vendors were also fully cognisant of the tremendous strength of the Box Hill market, one of the strongest localised areas anywhere in Australia, and the opportunity to sell in the wake of Savills successful sale of the adjacent property at 820 Whitehorse Road for $18.18 million late last year at what was a record price.
Clinton Baxter and Nick Peden, Savills
The wider media have reported that a Chinese developer had secured 826-828 Whitehorse Road for $30.8 million; a new Whitehorse record of $11,623 per sqm for the 2,650sqm site.
Conjecture regarding its location aside, Panorama Box Hill is pushing to become one of Box Hill's tallest developments.
Whitehorse Towers, Sky One Box Hill, East Central Tower and 845-851 Whitehorse Road all count themselves as having 30 levels or more, with Whitehorse Towers all but complete and Sky One Box Hill to emerge above ground in the coming months. Panorma Box Hill's floor count beyond 30 should see it join the suburb's club of talls.
Another prospective Box Hill tall is 837 Whitehorse Road. Lodged wit Council during May, the application seeks the right to construct a multi-level mixed use development comprising accommodation and a residential hotel. The 1,485sqm landholding is adjacent to 845-851 Whitehorse Road Box Hill which holds approval at 37 levels.
