Greek association buys major suburban office for clubhouse
After recently selling a Bayswater base of 41 years, the Greek Club Palesviaki Enosis of Melbourne has reinvested proceeds on a replacement in a much more appropriate spot.
The not-for-profit is spending c$4 million for an office/warehouse at 15 Stamford Road, Oakleigh (pictured, top) – a popular base with Greek immigrants in the 1950s and 1960s, with an influence living today, arguably more than anywhere in the country.
On 1736 square metres zoned Industrial 1 at the north west corner of Kingston Town Close, the block includes 28 car parks.
The two floor glass clad building contains 1106 sqm – more than a quarter (291 sqm), offices.
Fast growing toy maker Headstart International was the seller.
Established by Funtastic Limited executive David Hendy and his son, Andrew, that group recently bought a much larger headquarters at Dandenong South.
Aston’s Rodney King and Jeremy Gruzewski were the agents (story continues below).
Club in the black after switch
The Greek Club Palesviaki Enosis of Melbourne banked $6.8m early last year for its Bayswater base, on 3.2ha, only a third of which is developable.
It beat other owner occupiers for the property, according to Mr King, who listed it via an expressions of interest, after an unsuccessful private sale campaign by another agency last August.
The deal comes four days since we reported Victoria’s oldest ethnic club, the Club Tivoli-Deutscher Verain, divested its Windsor base of 36 years permit-ready for a six storey apartment block.
Oakleigh is 14 kilometres south east of the CBD.
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