University quietly buys historic Myer dispatch buildings
EXCLUSIVE
Following an off-market deal, the University of Melbourne has purchased part of the ex-Myer dispatch complex, across two streets, in Carlton.
With a street address of 45 Barry Street, the Art or Streamline Moderne – now offices the school part-occupies – cost $34.1 million.
The seller was the Chiodo family.
It previously traded publicly for $5.7m in 1998.
Over five and six levels, also with a wide frontage to Berkeley St, the buildings formed part of a complex built in two stages in the late 1920s and mid-1930s as part of Myer’s expansion outside the CBD.
Then known as the ‘Myer Despatch Buildings’, HW and FB Tomkins penned it (these architects are also responsible for the retailer’s Bourke St mall, now co-owned by three major investors).
Where stock was received, sorted and distributed, the complex is built boundary-to-boundary. The site spreads 1402 square metres zoned Capital City.
Near the university’s FBE, or Faculty of Business and Economics Building, also known as Building 105, which houses the Giblin Eunson Library, a school spokesperson said it is for occupation “as part of meeting current and future needs”. Telstra is also a tenant.
The deal comes six weeks since we reported Preshill paid $19.7m for Carlton’s former Allan & Co of Melbourne piano factory, opposite Lincoln Square, also to occupy (continues below).
University seals another real estate deal
The University of Melbourne, just before COVID, paid the Australian Red Cross c$46m for Carlton offices covering 163-175 Bouverie St and 147-155 Pelham St.
The school was said to have outbid 17 groups for the property, also opposite Lincoln Square.
Mid last year it offloaded the historic Cumnock mansion in Parkville – for a few years the former Vice Chancellor’s residence then used for school functions.
It paid $7.7m for the four bedroom Victorian in 2018. It sold to a home buyer for $8.5m.
Again last year the University of Melbourne leased a St Kilda Road office to relocate the School of Public Health and Preventative Medicine from a nearby office, also on that street.
The Myer dispatch building is less than a kilometre from the city, walking distance to the newly opened Parkville station, part of the Metro Tunnel system.
Also today Charter Hall on behalf of the Social Infrastructure REIT also acquired a 50pc stake in a Western Sydney University campus at Parramatta, for 152m.
Subscribe to this newsletter at the bottom of this page
