Church buys back Thornbury property
The Presbyterian Church has bought back a Thornbury property it owned until 30 years ago.
At 7-15 Rossmoyne Street, abutting St Mary’s Catholic Church and primary school, the 1780 square metre rectangle site includes a residence and two heritage-listed religious buildings – all which it intends to utilise.
Also near the High Street commercial/retail strip, the holding was marketed for its potential to make way for another not-for-profit group, or essential service like childcare, education or healthcare.
About a third of the property – the dwelling, which returns $43,940 annual rent – could be razed for a visitor car park or multi-level structure.
Developers would have been eyeing this component too, likely for a medium density residential project.
CVA’s David Napoleone and Daniel Philip marketed 7-15 Rossmoyne St for Uniting, formerly known as the Uniting Church.
True crime enthusiasts might recognise this pocket – buildings associated with St Mary’s and a former bookstore at 736 High St – for links to the unsolved 1980 murder of Maria James.
Prize site: agents
The Thornbury property cost the Presbyterians $3.6 million.
“The vast c51 metre frontage to Rossmoyne St provides clear exposure to those turning off bustling High St,” Mr Napoleone said (story continues below).
“This…connection to the main road also means simple access to what makes Thornbury one of Melbourne’s most popular suburbs between the ages of 20-45,” he added.
“The 86 tram stop is c180 metres away with access to the CBD in 40 minutes while Thornbury train station is only c500m away,” according to the executive.
“Northcote Plaza, supermarket giants and Welcome to Thornbury are all within orbit here, making this property the prize of the north”.
In the suburb, Uniting also controls a facility at 2 Watt St.
The Rossmoyne St addition comes a month since it offloaded a Hawthorn West house of worship on 6700 sqm to a local developer for c$14m.
In recent years the church also sold assets at Montmorency and Preston, both to occupiers.
Another, at 130 Little Collins St, is now making way for a 26 storey, high end strata office project.
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