Carlton manse converted office collects $7.35m

Sheng Run Holdings Group, directed by Chinese electronic power and road developer Li Xipeng, has sold a former Presbyterian church manse opposite the Royal Exhibition Buildings, in Carlton.

The executive is banking $7.35 million for 97-105 Rathdowne Street.

The price well exceeds the guide ($6-$6.6m) when the asset was listed last month.

Sheng Run Holdings paid $4.65m in late 2007 – a peak period in the local real estate market.

Built in 1868, the 354 square metre building has been recently occupied as offices by ASX listed biodiesel company Jatoil, in which Mr Li holds a cornerstone stake.

On 1172 sqm, Marshall White’s Mark Harris, Justin Long and Fiona Counsel marketed its potential to be repurposed as a residence, boutique hotel, medical centre or office.

More to come.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of