Church of Scientology One Step Closer to Selling City Headquarters

A quiet Expression of Interest campaign to offload 42 Russell Street closed on Thursday, with sources speculating the building may sell for between $7 and $8 million. The church paid $720,000 in 1980.

The latest sale campaign comes five months after the Church cancelled an auction, hours before it was scheduled to start – and for the second time in four years (the Church cancelled a scheduled auction of this property in 2005 too).

When approached by The Age, Colliers International selling agent Matt Stagg said only that the agency received multiple bids for the 4-level building, and that a decision about a sale is expected to be made over coming weeks.

The Church of Scientology will move to a new Ascot Vale headquarters next year.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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