Yarralinda Primary School sells outgoing Mooroolbark campus for $4.1 million
Yarralinda Primary School and Early Learning Centre has sold its outgoing Mooroolbark campus for $4.07 million
With sale proceeds the educator plans to relocate to a more modern school, it said upon listing the site last August.
The operator is reportedly one of two in the country licensed to teach based on the works of Church of Scientology founder Lafayette Ronald Hubbard.
The facility it has occupied for 25 years at 4 Birchwood Road spreads 2.8 hectares.
Zoned Neighbourhood Residential, making it appropriate for townhouses, it was also expected to pique the interest of developers within the aged care, childcare and education sectors.
Allard & Shelton’s Joseph Walton, Michael Ryan and James Gregson sold the site in conjunction with Ian Reid Vendor Advocacy.
The deal comes more than a year since it was reported the school sold a 1960 square metre piece of the campus for about $1.05 million.
That slice, marketed by First National Real Estate Zenith Ringwood also as 4 Birchwood Drive, and configured with a netball court and car park, was offered with a permit for townhouses.
According to the My School, Yarralinda Primary School has 18 students and three teaching staff.
In 2009, according to the government website, the college spent $3727 per student despite receiving $6171 from a combination of government funding and school fees.
It was later reported that much of its income was used to pay off debt stemming from a loan it had taken out to help fund the $21 million refurbishment of the Church of Scientology’s Melbourne headquarters, in Ascot Vale.
