Dementia Australia, MS list major Melbourne sites
Two not for profits listed major Melbourne assets this week.
In Hawthorn, Dementia Australia is offering three historic mansions covering 3443 square metres on Riversdale Road, with rear exposure to Glen Street.
The quote is $10-$11 million.
The four-title amalgamation isn’t being offered separately.
The not-for-profit, headquartered in Parkville, has already vacated.
“This is one of the most significant inner east freehold opportunities to come to market in recent years,” Kay & Burton agent, Alex Schiavo, said.
“The scale, exposure and underlying zoning combine to create immense flexibility—whether that’s holding for income, repositioning the existing improvements, or undertaking a landmark redevelopment,” he added.
“Opportunities of this calibre, with multiple titles and dual street frontages in a blue-chip location metres from Glenferrie Road, are exceptionally scarce,” according to the executive.
MS relists Blackburn office
Meanwhile MS Plus, formerly known as Multiple Sclerosis Limited or MS Limited, is offering an outgoing Blackburn head office.
It is the second time in seven years the buildings and car park at 48-58 Railway Road – a site dissected by Solwood Lane – has been offered.
All up covering 3432 sqm, zoned Commercial 1, the land has significant development upside.
Price expectation in early 2019 was over $8m.
It is being marketed this time around by Stonebridge Property Group’s Julian White, Dylan Kilner and Chao Zhang under instructions from Clemonte Advisory.
“In recent years, many organisations have reduced their physical footprint. Hybrid working and hot-desking mean fewer large buildings are now justified,” MS Plus chief executive officer, John Blewonski, said.
“The transaction will support improving services for people with MS, their families and the broader neurological community and follows recent developments in Hobart (TAS) Footscray (VIC), and Lidcombe (NSW),” he added.
“It will also enable diversification of income streams and right sizing of its property portfolio to match evolving operational realities,” according to the executive.
“We are stewards of donor and public funds, we will act responsibly, sustainably and always with the client at the centre.
“By revitalising our property footprint, we secure greater agility, bolster our financial foundation, and ensure that MS Plus remains a strong, trusted partner for clients, donors and the neurological community.
“We believe that this change also signals to partners and donors that you are part of the future.
“Through this strategic step, we are sharper, leaner and better equipped to deepen our impact for people with neurological conditions”.
The listing comes eight years since MS paid $9.5m for a Box Hill North office, 120 Thames St – to occupy (an asset the not for profit sold the year later to NorthWest).
Subscribe to our newsletter at the bottom of this page.
