Oxfam has sold its Carlton headquarters to Scape for a speculated $15 million.
At 130-138 Leicester Street, the four-storey warehouse-converted-office will now be razed for a 14-level student accommodation tower with 334 rooms.
The pair formalised the deal mid-last year with a 12 month settlement.
“The sale…was undertaken after independent, expert commercial real estate advice from Ernst & Young and based on a review finding that the Carlton building was no longer suited to Oxfam’s long-term needs,” according to a July company statement.
“The review found the sale would optimise the use and investment of…assets for its purpose-driven work in tackling poverty and inequality around the world,” it added (story continues below).
Oxfam has been based at the property for nearly 14 years.
Scape’s proposal, penned by Bayley Ward, will include a laneway between the street an Leicester Place.
A University of Melbourne Unilodge complex was completed about seven years ago next door (108-128 Leicester St).
Student Housing Australia also has a facility across the road (#127).