Australia Post banks premium for ex-branch
Australia Post has sold the former Glenroy Post Office, in Melbourne’s north.
The $3.001 million achieved at auction for 9-11 Post Office Place was 40 per cent over reserve.
On 978 square metres, the land is zoned Commercial 1, meaning it could make way for a residential-based mixed-use product.
The incoming owner is speculated will develop that, in the medium-term.
Colliers’ Travis Keenan and James Bui were the agents; an auction ran over an hour with eight bidders lodging 128 offers. The reserve was $2.2m.
The result excludes GST.
Glenroy is 12 kilometres from Melbourne’s CBD (story continues below).
End of an era
Australia Post ceased trading at the Post Office Pl building in August, 2023.
The disposal comes eight months since the c1970 former Glenroy Library at nearby 737 Pascoe Vale Road sold to an occupier, for $4m.
That vendor was Merri-Bek City Council.
The result was within guide.
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