87 Boronia RoadBoronia VIC 3155
Property Details for 87 Boronia Rd, Boronia
Last Listing description (April 2023)
Jones Real Estate is proud to present 87 Boronia Road, Boronia to the market For Sale via Private Negotiation.
This high-profile corner freehold is nestled within one of Melbourne most densely populated suburbs and is offering undeniable future development potential with strategically planned upside of 22.5m* and extremely strong holding income. This opportunity also benefits from an abundance of public car parking and is within walking distance to Boronia Station.
Key features of the property include:
- Prominent corner freehold site situated upon an expansive landholding of 1,012sqm* and boasts a combined street frontage of 70.41* meters to Boronia Road and Turner Road.
- Returning $95,000 per annum + GST & Outgoings. Leased to an established automotive dealership 'I Car' on an initial 5-year lease until 2027, with a further optional term of 5 years and 3% annual increases.
- Offering an expansive and immensely rare Commercial 1 Zoned (C1Z) landholding with development potential of up to 8-levels or 22.5m* of building height^.
- Schemes available upon request with a projected 8-level striking tower incorporating the Commercial 1 Zoned landholding.
- Forecasting on the Boronia Renewal Strategy 2021 shows that Boronia's permanent population is expected to increase to 27,006 by 2041 (from 23,936 in 2021). To accommodate this growth, Boronia will require approximately 1,311 additional dwellings over the next 20 years.
- Located in the heart of the Boronia activity center and surrounded by major local amenity including Boronia Junction (Woolworths, Amcal Pharmacy, Dan Murphy's), Boronia Train Station, Boronia Mall (Coles, NAB, Kmart, Aus Post), Boronia Library, ANZ and benefits from direct access to Melbourne CBD via the Eastlink Fwy.
- Positioned on the gateway to the Dandenong Ranges, Boronia is identified as a Major Activity Centre under the Victorian Government's metro planning strategy 'Plan Melbourne 2017-2050'. It is expected to provide a suburban focal point for services, employment, housing, public transport, and social interaction - securing the investment for years to come.
*Approx.
^Subject to council approval.
For further information about this opportunity, please contact the exclusive selling agents.
Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.
Property History for 87 Boronia Rd, Boronia, VIC 3155
- 26 Oct 2022Listed for Sale $2,840,000
- 29 Jul 2021Listed for Rent - Price not available
- 22 Apr 2021Sold for $2,112,000
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0About Boronia 3155
The size of Boronia is approximately 11.3 square kilometres. There are 36 parks, covering nearly 7.8% of the total area. The population of Boronia in 2016 was 22195 people. By 2021 the population was 23607 showing a population growth of 6.4% in the area during that time. The predominant age group in Boronia is 30-39 years. Households in Boronia are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Boronia work in a professional occupation.In 2021, 69.90% of the homes in Boronia were owner-occupied compared with 70.80% in 2016.
Boronia has 13,253 properties. Over the last 5 years, Houses in Boronia have seen a 6.46% increase in median value, while Units have seen a 10.22% increase. As at 31 May 2026:
- The median value for Houses in Boronia is $854,316 while the median value for Units is $671,914.
- Houses have a median rent of $605 while Units have a median rent of $575.
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