Kooyong Lawn Tennis Club shelves expansion plan
EXCLUSIVE
The Kooyong Lawn Tennis Club has shelved plans to buy the 1.64 hectare Vision Australia office opposite its east border, to expand.
In a short statement, Vision Australia said the buyer decided not to proceed with the speculated c$50 million transaction announced October.
“Under the sale agreement…Kooyong Lawn Tennis had until 17 December to finalise purchase or advise Vision Australia that it would not be proceeding,” it added.
“Kooyong Tennnis Club have indicated their major growth plans involving the Kooyong precinct redevelopment are no longer feasible or viable,” according to the spokesperson.
“Vision Australia will continue to operate as normal from the Kooyong location and we continue to welcome clients to the site.
“Vision Australia retains a strong relationship with the Kooyong Tennis Club and we look forward to remaining part of the Kooyong community together” (continues below).
“Compelling” offer off the table
The not for profit made the surprise decision to sell its Glenferrie Road base of nearly a century following “a compelling” offer.
The settlement would have been long – two years – to allow Vision Australia time to find a new headquarters.
The club wanted to replace the office with 10 tennis courts, a wellness centre, pickleball facilities and infrastructure adaptable for tennis and netball.
It also planned to enclose the main stadium on its site, occupied since 1927.
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