Australian Red Cross Sells Southbank Carpark to Developers

At the moment, commuters taking the Kings Way offramp of the West Gate Freeway can peer over and see the site, which is configured as an open air car park.

But soon, this view will be blocked, as developers plan a 37-level skyscraper at the end of Balston Street, between the ARC’s outgoing property, and the busy offramp.

Gross Waddell’s Andrew Greenway and Michael Gross sold the ARC’s Kavanagh Street  property.

In 2001, the ARC sold a much bigger development site with four street frontages, in Southbank, to developer Central Equity for $20 million, which has been replacing the former ARC headquarters, with skyscrapers.

At the same time, the ARC purchased a new North Melbourne facility for $7.1 million, which is its new headquarters.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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