321 Middleborough Road in Box Hill South sold for $15.5 million to an offshore investor. The deal priced on a 5.21% yield after land tax.
10:38 PMPropertymarkets News2 stories from 2 sources
Tuesday, June 16, 2026
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Other Developments
A curated list of other prominent stories from this day.
Decommissioned electricity substations in Australia are being bought and converted into residential properties as buyers hunt for scarce, distinctive housing. These industrial sites are being refurbished into high-end homes that preserve parts of their original structure while meeting modern living standards.
12:01 AMThe New York Times10:38 PMPropertymarkets News
$15.5M Sale of Landmark Box Hill South LFR Centre
Summary
321 Middleborough Road in Box Hill South sold for $15.5 million to an offshore investor. The deal priced on a 5.21% yield after land tax.
Why it matters
The sale is a fresh benchmark that can pull valuation expectations up for comparable retail assets and influence deal flow in 2026.
12:01 AMThe New York Times
Australia’s Former Electricity Substations Are Being Turned Into Homes
Summary
Decommissioned electricity substations in Australia are being bought and converted into residential properties as buyers hunt for scarce, distinctive housing. These industrial sites are being refurbished into high-end homes that preserve parts of their original structure while meeting modern living standards.
Why it matters
It signals how deep the housing shortage is and how far the market is stretching to create supply in desirable areas.
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