Box Hill party pad finds cashed-up buyer
A lavish Box Hill home has been snapped up for huge multimillion-dollar sum just days before a second auction attempt.
The seven-bedroom entertainer’s haven at 1-3 Oxford St sold for more than $5.2 million recently with its end of March auction now cancelled.
Buxton Box Hill director Jim Chen said the buyer would move their family into the three-dwelling property, having migrated from China.
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There was one other offer below $5 million from an overseas buyer, also from China.
Mr Chen declined to disclose the sale price, but said the long-time owners were happy that the property has finally sold after several months.
It had been listed for more than three months late last year with another agency and could not secure a buyer at auction last October.
It is understood an offer of $4.2 million was made post-auction. The vendors had price hopes of $5.8 million-$6.3 million during the campaign.
Mr Chen said Buxton had the listing in early January and marketed it via its database of local
and overseas buyers before a scheduled launch.
“We had planned an auction in late March but found two buyers and sold it,” Mr Chen said.
The vendors’ family had owned the land for 45 years and had gutted the original house to build a large and luxurious home on the 1014sq m block located close to central Box Hill shops, train station and schools.
It enjoys a fabulous entertainment area with a pizza oven, spit and wine fridges, a swimming pool and ample space to host a party.
Vendor Paul Nardella had said houses of its size and floorplan were rare in Box Hill.
The house has marble tiled floors, a cinema room with a gas log fireplace, high ceilings and crystal light fixtures.
It comes with two self-contained spaces and ideal for those with extended family or as rental accommodation.
The property is located in a residential growth zone and is suited for a low-rise apartment development. But it would remain a family home for the new owners, Mr Chen said.
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