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Developer buys Melbourne veggie patch for $2 million

10-Sep-2017


Charlotte Durut, Manningham Leader, Herald Sun

A vacant block in Box Hill could be Melbourne’s most expensive vegetable patch after selling for $1.93 million to a developer.

Owned by one family since 1980, the 766sq m block at 24 Kangerong Rd had been used as a veggie patch for generations by its owners.

But its proximity to Box Hill Central shopping centre and Box Hill High School ensured it attracted “pretty fierce” bidding from two developers.

Ray White Box Hill sales agent Stuart Rooke said other parties were interested in the block too but never had the chance to bid.

“It started slow with a vendor bid of $1.6 million, then there was a bid of $1.62 million, and after that it took only a minute to get to $1.89 million,” Mr Rooke said.

“The reserve was $1.85 million.”

Mr Rooke said the buyer planned to build two luxury townhouses on the block.

“We had a lot of people call up and inquire about the block,” he said.

“It was hard to factor in the market value of a so-called veggie patch though.”

Recent CoreLogic figures show Box Hill’s median house price increased 4 per cent to $1,455,700, in the 12 months to May.


Herald Sun
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