French school buys piece of ex-Melbourne cinema
After selling its St Kilda base of nearly 20 years, Alliance Francaise de Melbourne has snapped up a replacement in the heart of the CBD.
The French language school has paid $4.95 million for the first floor strata office tenancy of 140 Bourke Street, a mixed-use redevelopment of the former Hoyts Cinema Centre.
The 300 square metre space, with a uber high end fit out, is configured with three quiet rooms, two client and internal meeting rooms, open plan and breakout spaces and a modern kitchen.
There is also a large, grassed terrace and four car parks.
Sale trumps lease
Cushman & Wakefield’s George Davies, Anthony Kirwan and Jeff Ha were the agents; the strata office sold on December 8 and settled by the 15th.
The same agency, via Nick Sharkey, Stephanie Harding and Amy Jones, had just listed the property for lease (story continues below).
Alliance Francaise de Melbourne, established in 1890, was cashed up after selling St Kilda’s Eildon last April with a leaseback for $10.45m.
That buyer, a company directed by art dealers Gary Singer and Geoffrey Smith, had intended to move their eponymous business there, however it was relisted late last year after the pair picked up Toorak’s Darnlee from Blue Cross.
More than $12.5m is expected for Eildon, which was developed in 1855 as Banham House.
Darnlee is speculated to have cost c$20m.
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