Girls’ school buys neighbouring sites from government
The Monte Sant’ Angelo Mercy College has snapped up two offices beside its North Sydney campus.
The deal with the state government for 194 and 196A Miller Street is speculated to be worth over $25 million.
With 2289 square metres, the buildings will be consolidated with the school, said to be experiencing growing demand following an influx of residents in new apartments.
It will expand the campus footprint 961 sqm and add 44 car parks.
“Today marks an exciting new chapter for our college and for the future of the girls’ education,” Monte’s principal, Nicole Christensen, said.
“This building represents more than bricks and mortar – it is an investment in the potential, courage and leadership of every young woman who walks through our doors,” she added.
Sub 1 per cent yield
The offices – one is much bigger than the other – were offered individually (continues below).
They are presently let to Lendlease as a building site for the nearby VicX Tower – due for completion next month. The price reflects a sub one per cent yield.
The sites are about 50m, diagonally adjacent to the Victoria Cross Metro which opened mid-2024.
Zoned Mixed Use, they carry a 16 metre height limit.
“The highly competitive campaign drew strong interest from occupiers, investors and developers given the opportunity’s flexible fundamentals,” Colliers’ Tom Appleby, who brokered the deal with Joseph Lin and Charlie Gilmour, said.
“The mixed-use zoning, proximity to the Metro Station, and generous car parking ratio were key,” he added.
Also today we report Wentworth bought the ex-MLC Centre at 105 Miller St with plans to renovate.
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