Swinburne University to Sell Property Around Hawthorn Campus

The biggest of the two properties, a two-level Federation building at 420 Burwood Road, will be sold with a 4-year leaseback to Swinburne, at a rent to be negotiated by the prospective buyer. The university uses the 825 square metre building, which abuts the bustling Burwood Road retail strip, as offices for its administration staff.

The second of the two properties, a double storey Federation mansion once used as a hostel, at 410 Burwood Road will be sold with vacant possession and a demolition permit. The site measures 725 square metres and has three street frontages.

Knight Frank director Nick Peden, who is selling the property with Michael Hede, said both properties are zoned Business 2, which would allow a mix of retail and office redevelopment.

He would not speculate on the price however recent sales in the area suggest the buildings could fetch around $6 million combined. The properties will be sold separately.

 

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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