Developer saves historic Salvos hostel
The Salvation Army has sold a historic Footscray ex-refuge – and adjoining mini soccer court – for c$2 million to a developer.
Carinya House, also known as Carinya Youth Hostel, has sat vacant for more than 10 years.
On 1064 square metres at 101-103 Droop Street, at the south west corner of The Crescent – it contains a red brick home with several period features.
The property is walking distance to the $1.5 billion Footscray Hospital, construction of which started last month.
The suburb is six kilometres west of Melbourne.
Twelve months ago The Salvation Army sold the Geelong Conference Centre to BEKL, which is renovating it as a wellness-focused boutique retreat.
In January a Surrey Hills office owner-occupied by the not-for-profit between 1994-2008 traded again, for c$30m (story continues below).
Footscray home, soccer field, will be retained
NSL Property Group director Guy Naselli said several local owner-occupiers, particularly from within the essential services sector, considered 101-103 Droop St.
With 66 metres of road frontage, the Neighbourhood Residential zoned holding allows for a multi-level residential complex – and was promoted to builders too.
Instead the incoming owner will restore the house and soccer field as a commercial investment, possibly a childcare centre.
“The strategic location and future upside were attractive features the new purchaser will take advantage of,” the agent said.
Three months ago Investa Office Management and Oxford Properties acquired a 6916 sqm ex-public Footscray site for a Build to Rent village with c770 dwellings. Last July, childcare operator the Agosta family banked $11.5m from a West Footscray centre offered with a 20-year leaseback.
