Restaurant plus residence with new lease to long term tenant
This property is an outstanding underpinned by hospitality demand, local population growth and high foot traffic. Located in the heart of one of Melbourne’s strongest suburban retail and hospitality hubs, it has been tenanted for more than 25 years by a Box Hill institution, Vegie Hut.
The well-known and established hospitality operator established the business in 1997 and has leased these premises for more than 29 years of uninterrupted occupation, demonstrating exceptional tenant retention. A proven local institution within Box Hill’s renowned food precinct, the restaurant is supported by a loyal and repeat customer base and has enjoyed consistent trading performance and resilience across multiple economic cycles.
The property consists of a downstairs restaurant and first floor residence. The tenant occupies both retail and residential components, reinforcing a deeply embedded tenancy. A new lease, commencing 16 August 2026, is for five years with a further five-year option. The commencing rental is $140,000 net with 3% increases annually.
This is an opportunity to acquire an asset relatively insulated from broader commercial market headwinds owing to its core retail positioning in an established, tightly held strip. Its blue-chip location on Whitehorse Road, just off Station Street, positions this property amongst popular eateries, essential services, Box Hill Central, Box Hill library and civic amenities.
Key features
• Ground floor restaurant 165 sqm*
• First floor residence 75 sqm*
• Land area 286 sqm*
• Rear access to on-site car parking
• New 5 + 5-year lease
• Commencing rental $140,000 pa
Location
• High profile position in Whitehorse Road
• High foot traffic strip
• Retail and hospitality hub
• One minute walk to trams and trains
• Steps to Box Hill Central shopping centre
The property is offered for sale by Expressions of Interest closing Tuesday, 4 August at 2pm Inspection is by appointment. For more information contact Anthony Boldrini 0468 519 472 / Matt Hoath 0418 543 714.
*Approx.
