PEGS buys shops beside Essendon campus
Penleigh & Essendon Grammar School has snapped up another property abutting a campus.
The double fronted retail and office investment, 62-64 Napier Street, Essendon, set the college back $4.4m.
Its eastern edge – spreading 15.2 metres – neighbours the historic building which dubs as the Junior School (Boys) reception.
On 616 square metres, zoned Commercial 1, the new asset could make way for a multi-level development.
Vinci Carbone Frank Vinci and Joseph Carbone, who marketed the property, declined to comment, as did a college spokesperson (story continues below).
The acquisition comes more than 20 years since PEGS purchased a bowling alley on nearby Fletcher St to repurpose as a gymnasium and arts complex, the Ian Morton Centre.
Last week, we reported the school was speculated to be paying c$14 million for an industrial property abutting its Keilor Park sports ground.
The college also has campuses at East Keilor and Moonee Ponds.
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