Monash University buys 407 Royal Parade, Parkville

Monash University buys 407 Royal Parade, Parkville
Jonathan ChancellorJanuary 27, 2015

Monash University has expanded its Parkville holdings.

The office block on 2,428 square metres cost $10.9 million.

The office building at 407 Royal Parade has 1,859 square metres over two levels with 38 car parks.

Monash University also has a Parkville campus at 381 Royal Parade, home to the Monash Institute of Pharmaceutical Sciences.

Knight Frank marketed 407 as a prized opportunity for developers, owner-occupiers and land bank investors. 

It last sold for $6 million in 1989.

Another site in Parkville's tree-lined Royal Parade, The Parade Inn motel, on 3221 square metres at 535-541 Royal Parade, sold last year at $12.5 million (pictured below).

The University of Melbourne paid the Salvation Army $26 million for a 4500-square-metre landholding at 303-305 Royal Parade.

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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