Xavier College lists Kostka Hall, Brighton, campus for $120m

The Kostka Hall website is a few prime actual property.

Xavier College is trying to financial institution $120m with the itemizing of its Brighton Kostka Hall campus in a sale that might shatter the suburb’s $32m property value file set in 2016.

The 3.292ha campus has been beneath the Catholic Jesuit non-public college’s possession since 1937, earlier than a 2020 choice to shut the South Rd website amid reported dwindling enrolment.

Jacx property’s Michael Jackson is dealing with the sale on behalf of the varsity, with Colliers brokers John Marasco, Trent Hobart, Hamish Burgess and Yvonne Zhou appointed.

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Mr Marasco stated the property “suited a multiple number of uses” together with as one other college and he anticipated “interest from a wide range of groups”.

“Given the location and demographic, it might even suit an age or health care facility … there has been interest from private hospitals, but also from buyers interested in a premium residential property,” Mr Marasco stated.

The suburb’s property value file was set with the $32.08m sale of 100 Church St in 2016. And the residential value file was set final yr with the large $25m sale of the Zagame hospitality household’s ritzy beachfront mansion at 27-29 Kent Ave.

Redemptorist missionaries have been poised to interrupt that file final yr with the $25m itemizing of 257 St Kilda St, which did not promote after gaining interim state heritage safety.

Inquiries are welcome forward of the Kostka Hall property formally being listed subsequent month in an expressions of curiosity marketing campaign non-public sale marketing campaign, set to shut in June.

The Herald Sun reported in 2020 cash reaped from the sale would fund aged care wants of Australian Jesuits and the Father General’s Fund for Charitable and Social Needs.

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