Scanlan Theodore founder buys historic ex-school
EXCLUSIVE
Gary Theodore has snapped up South Yarra’s former Hawksburn State School for the Scanlan Theodore company he established to occupy.
The c1874 gothic style building on 3105 square metres at 259-369 Malvern Road, on the north east corner of Surrey, set the executive back $17.05 million in a deal which settled in September.
For the last 10 years, the 1443 sqm building – surrounded by a 43 bay car park – has been home to auctioneer Leonard Joel, which we are reporting today just leased a replacement space in Hawthorn.
Stonebridge’s Julian White, Chao Zhang and Rorey James represented the vendor, a syndicate led by Hickory Group founder Michael Argyrou, which paid the Joel family $8m in 2015.
The Residential Growth zoned property was marketed during both campaigns for its development upside.
Scanlan Theodore, established in 1987, is presently headquartered at River Street, South Yarra.
333 Malvern Road
Known as 333 Malvern Road, the double storey schoolhouse was designed by Crouch and Wilson; it was one of 13 prize winners in a state competition to design model schools for the then-new education department, according to Heritage Victoria (story continues below).
The land was zoned Prahran when it was completed as Primary School No 1467.
In 1888, more than 2000 students were enrolled; the continued demand leading to extensions in 1908 and 1924.
It closed 30 years ago following low enrolments.
“We received bids from occupiers, investors and developers, all who had a varied vision for what they were planning, navigating the heritage features of the property,” Mr White said when the property transacted last year.
“Of the top four bidders, two were Melbourne based occupiers,” he added.
The others were investors – one from Sydney.
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