325 Station Street, Box Hill South
One of the state’s earliest religious societies, the Loyal Orange Institution, has sold a vast 12,627 sq m site in Box Hill South for more than $15 million.
The local lodge of the Loyal Orange Institution, an offshoot of the strict Protestant Orange Order, based in Northern Ireland, was founded in Victoria in 1843.
The group sold its site, used for aged care and low-cost housing for members, to a local developer.
ICR Property’s Raff De Luise and Julian Materia, who negotiated the sale, said the residential-zoned property attracted six bids via an expression of interest campaign.
Mr De Luise said there was strong interest from both offshore and local developers.
Neither the agents, nor Thomson Geer lawyer Eu Ming Lim, who acted for the buyer, would disclose the final sale price, but the property was on the market with expectations of selling for more than $15 million.
The low-rise block at 325 Station Street is likely to redeveloped into housing.
It was purchased by the Institution in 1949 and used to accommodate members in financial hardship.
At one stage the order had similar homes in Croydon, Hoppers Crossing, Moe and Ballarat. Only the Hoppers Crossing home is still running.
“The sale of Box Hill will enable the Institution to continue in its role in supporting various churches, theological colleges and other Christian organisations and .. [provide] educational scholarships for children of members both locally and overseas in Togo and Ghana,” the Orange Institution said.
Mr De Luise said the sale would also allow the Institution to relocate and revamp its original headquarters at 521-530 Elizabeth Street.
It is planning a museum, library and function centre in its new offices.
Northern Ireland’s Orange Order is best known for its annual July marches which, during the province’s sectarian troubles, often descended into violence.
THE AGE – 6th October 2018 – Commercial Real Estate – Simon Johanson (https://www.smh.com.au/business/companies/orange-order-sells-box-hill-site-20181005-p5080a.html0).