Vision Australia to Sell Heritage Listed St Kilda Road Headquarters

Vision Australia first signalled it wanted to exploit the site’s commer-cial development potential six years ago when, in a joint venture with Mirvac, it proposed two residential buildings of eight and 19 storeys for the site’s northern boundary.

Heritage and zoning issues delayed development and Mirvac pulled out in 2002.

The site has since been rezoned from Special Use Zone 3 to a development-friendly Business 5, and it is now likely to be redeveloped.

Sources say neighbour Wesley College, which objected to the proposed rezoning in 2004, is a potential buyer of the property, as are private developers including Mirvac, Becton, Sunland and Salta.

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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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