Buys North – realestatesource https://www.realestatesource.com.au Commercial and residential property news Fri, 29 Jun 2007 15:37:15 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Buys North – realestatesource https://www.realestatesource.com.au 32 32 Scotch College Sells South, Buys North https://www.realestatesource.com.au/scotch-college-sells-south-buys-north/ Fri, 29 Jun 2007 15:37:15 +0000 http://realestatesource.com.au/wordpress/scotch-college-sells-south-buys-north.html SCOTCH College has been bolstering its property portfolio in Hawthorn's exclusive Scotch Hill pocket, recently snapping up two prestigious homes near its stately Morrison Street entrance.

]]> The purchases come just months after the State Government announced it would compulsorily acquire about 1600 square metres of land along the school’s southern boundary – so that it can widen the Monash Freeway from six lanes to eight.

Scotch is rumoured to have been compensated around $5 million for the land, which it is now using to buy more property at the school’s northern boundary.

The biggest of the two properties, an unrenovated 1920s home at 6 Hambledon Road, is understood to have sold earlier this year in a deal worth around $2 million. Changing Places director Cameron Fisher, who was marketing the property, confirmed it was under contract but declined to elaborate on buyer or price.

Local sources told Secret Agent the college also recently bought another house in the same street last month, in a deal worth around $1.5 million. Scotch College principal Dr Gordon Donaldson did not return Secret Agent’s call.

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