Loreto Sisters Accommodation House to Become Albert Park Mansions |
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Written by Marc Pallisco
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Tuesday, 13 May 2008 |
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THE mystery buyer to fork out $10.1 million for three adjoining St Vincent Place terrace houses - used by the Loreto Sisters religious order as an office and accommodation - plans to convert them back to their former glory.
Bennison Mackinnon director Iain Carmichael, who made Albert Park's record sale last week, told Secret Agent the new owner, a developer, plans to restore the terraces to homes of about five bedrooms each.
He said the houses - which would be on subdivided blocks of almost 500 square metres - would be among the biggest on the heritage-protected street.
The Loreto Sisters, who will relocate to Hawthorn, will reportedly use proceeds from the sale to fund an accommodation and community centre for its members.
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