Box Hill High School a boon for development site
![The Minna St block is extremely close to Box Hill High School.](https://www.realcommercial.com.au/news/wp-content/uploads/2019/07/MINNA-ST-BOX-HILL.jpg)
A large Blackburn just a few doors down from Box Hill High School could present a rare opportunity for developers.
Priced from $3.8-$4.1 million, 1-3 Minna St includes an approved permit for 1o townhouses.
A sale in that range would top the year’s highest sale in Blackburn — $3 million for 61-63 Whitehorse Rd in April.
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The Blackburn median is $1.213 million, down 14% for the past year, according to CoreLogic data.
![](https://www.realcommercial.com.au/blog/wp-content/uploads/2019/07/MINNA-ST-BOX-HILL-2.jpg)
Two houses are on the block earning about $500 a week each in lease.
Savills Melbourne agent Benson Zhou says there is also scope for other development opportunities on the site.
“We are only quoting $3.8 million on the back of the townhouses,” Zhou says.
“There can potentially be apartments (put in) — that’s for the next buyer to decide.”
“If someone sees the value in putting up the apartments, that would make the land rate really cheap.”
![](https://www.realcommercial.com.au/blog/wp-content/uploads/2019/07/MINNA-ST-BOX-HILL-3.jpg)
Blackburn High School is also nearby.
Zhou says there has already been strong interest due to the block’s central Blackburn location.
“It’s directly opposite Box Hill High — a lot of parents would be keen to live there,” he says.
Zhou says the two houses on the site are currently being leased at about $500 a week each by the vendor. “All the service and engineering reports have been done — that’s $100,000 to $150,000 saved,” Zhou says.
Expressions of interest close on July 17.
This article from Leader Newspapers originally appeared as “Box Hill High School: approved townhouse site for sale nearby”.