The Christian Blind Mission is understood to have sold its Box Hill headquarters to another not-for-profit, the Chinese Community Social Services Centre, for $13 million.
The incoming owner also intends to occupy; it will relocate within the area.
On a 2231 square metre Commercial 1 zoned plot, its next base, 56-60 Rutland Road, contains 2394 sqm of lettable area over three floors.
There are also 66 car parks.
The site is at the eastern edge of Box Hill’s Central Business District, with aspect over low-rise homes on William Street – and was marketed to developers.
As an investment, it could return annual net income of c$765,000 (story continues below).
CBM offered the property with a short leaseback.
The vendor was represented by Charter Keck Cramer.
Knight Frank’s Ed Wright, the agent, declined to comment other than to confirm a sale.
Ten months ago, Villa Maria Catholic Homes outlaid $8.2m for a 5047 sqm block at 110 Albion Rd.