Not for profits trade vacant Melbourne site
The Salvation Army has sold a large standalone warehouse until recently occupied as a store, in Melbourne’s south east.
Another not for profit is the buyer of 1A Frawley Road, Doveton.
An Afghan community centre is planned – to service metropolitan Melbourne.
The $4.8 million auction result was against a $2.5m reserve.
The opening bid was $3m.
Nine suitors contested.
The deal comes 18 months since we reported the Salvation Army sold a c1882 Essendon church – Moonee Valley’s second oldest – for $5.4m.
1A Frawley Road
On 3516 square metres zoned General Residential and surrounded by homes, townhouse developers were expected to investigate the Doveton site.
With a 1390 sqm warehouse/office, retail investors were also expected to look in, as were faith based cultural and not for profit organisations.
“The result is a clear indication of the strength of the owner occupier and community based segments in Melbourne’s south east,” Cameron’s Angus Clark, who brokered the deal with Tom Langley, said.
“We were confident the campaign would deliver a strong outcome given the level of enquiry from day one,” according to the executive.
“But nobody could have predicted the level of competition we saw on the day,” he added,
“The engagement, the energy, the bidding, this was a standout result by any measure”.
Marketing change
The Doveton property was initially listed for sale via an expressions of interest campaign.
“While this was an exceptional commercial result, witnessing the enthusiasm and pride from the community members who secured the property underscored that this wasn’t just a transaction, it was a meaningful handover to a group which will continue the site’s legacy of service,” Mr Clark said.
Doveton is about 31 kilometres from town.
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