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26-28 Prospect Street, Box Hill

26-28 Prospect Street was acquired in 2002. During the ownership Vantage completed numerous upgrade works and successful leasing campaigns. During the last 12 months of ownership Vantage successfully applied for a 30-level mixed-use planning permit. Due to the proposed planning scheme changes, a permit of this scale would no longer be possible under the new scheme to be adopted. This approval broadened the appeal of the asset to a wider potential buyer base and was a determining factor in achieving the highest land rate ever recorded on Prospect Street at the time of the sale.

Purchase price:
Sale price in 2021:
Net gain for investors:
Total return:
16% per annum
Hold period:
19 years
Premium to most recent valuation: