- Moonee Ponds church/café site sold for $1.885M
- Carlton church sold for $4.2M
- Former Brisbane convent sold for $2.35M
A fortnight ago, The Property Tribune found the North Star to real estate heaven in Moonee Ponds, Melbourne.
Part of a church redevelopment in Moonee Ponds sold for a divine $1.885 million, the immaculate 300sqm building being leased to the successful café on a long-term 5+5+5+5-year deal, returning $100,000 per annum plus GST.
As it turns out, this wasn’t the only august sale last month, with two other religious buildings also hitting the market, worth more than gold, frankincense and myrrh.
Savills sold 148-150 Queensberry Street in Carlton, the property having been owned and occupied by the Churches of Christ for more than 100 years.
A Melbourne developer purchased the 362 square metre property for $4.2 million.
Savills said the property was sold by the church as the building no longer provided a suitable standard of accommodation.
Located within the university precinct in Melbourne, it was no wonder investors pounced on the enlightened opportunity.
In Brisbane, a former convent hit the market, located at 43 Crown Street, Holland Park West.
Just 6 kilometres south of the CBD, the 1,803 square metre parcel of land includes a 500 square metre site that has been in existence since 1949.
The prime land was snapped up for $2.35 million and is located within the Low Medium Density Residential (2 or 3 Storey Mix) Zone under the Brisbane City Council Planning Scheme 2014.
“We had 84 interested parties with 51 people that got a copy of the DD which resulted in 20 offers – a clear indication that Holland Park West is certainly on the up and up,” said Robert Dunne, Director, Commercial Sales at Savills Australia.
“In recent years, large, modern homes have been built on top of some of Holland Park Wests’ hills to take advantage of the views of Brisbane’s skyline,” said Will Carman, Manager, Commercial Sales at Savills Australia.
With the former convent to likely become a childcare centre, there’s a pleasing continuity for sales on the mount.