Sale of Terry Road
The McCall Community Gardens Foundation is offering part of its large land holding – 30.9ha – in Box Hill to the market to future proof its work for the next 20 to 50 year. The Foundation will retain 4.74ha of the parcel at 10-32 Terry Road for its existing community facilities and operations, and to expand the depth and breadth of the services it currently provides to the disabled community in the area. It will consider a variety of transaction structures including a straight sale and a project delivery agreement via an International Expressions of Interest campaign run by Knight Frank. The sale price is expected to be in excess of $200 million, subject to the proposed acquisition structure. The land has zoning supporting a range of residential offerings, providing developers an opportunity to deliver more than 1,150 detached dwellings, townhouses and apartments.