15 Hay Street, Box Hill South VIC 3128

Wembley Hill | 143 townhouses on 5 hectares | Gardiners Creek frontage | Box Hill High School zone | flood overlay present This is a rare large-scale townhouse development in a tightly held eastern suburb, offering buyers a position in a masterplanned community with genuine open space — over 13,000 square metres of gardens and tiered landscaping — rather than the typical stacked units. The 6-star energy rating and solar panels reduce ongoing costs, and the Cox Architecture design signals a quality standard that should hold value better than neighbouring infill projects. It suits families wanting a new house in the Box Hill High zone without the price of a detached home, or investors seeking a modern, low-maintenance townhouse in a corridor with strong rental demand. The flood overlay is the primary risk here. It may affect insurance premiums and could slow resale to cautious buyers, though the development approval accounts for it. The five-minute drive to Box Hill Central and the adjacent parkland are genuine lifestyle advantages that offset the overlay. For an owner-occupier, this is a hold-and-enjoy proposition; for an investor, the rental yield at roughly 3 percent is acceptable for a capital growth play in Whitehorse, but only if you buy below the initial $1.5 million asking price.