The Christian Brothers have listed a historic Parkville estate for sale as the religious order moves to liquidate its remaining property assets. The 7,119 sqm Treacy Centre at 116–156 The Avenue is being offered with vacant possession, with price hopes of c$25 million.
Located opposite Royal Park, near the University of Melbourne and the city’s biomedical precinct, the property is being marketed to a range of potential buyers, including developers. Possible uses for the site include residential, healthcare, education, offices, and tourist accommodation.
The estate includes the Victorian-era residences Barbiston and Carclew, acquired by the church in 1965, along with the Mt Sion accommodation building. Currently configured for offices, function rooms, accommodation, and aged care, the property is zoned General Residential. It has approximately 91 meters of frontage on The Avenue, 81 meters on Walker Street, and 91 meters on Miles Lane.
The sale is part of the Christian Brothers’ efforts to address liabilities to creditors, including survivors of historical abuse. In June, they announced plans to sell 36 properties across Australia, then valued at c$216m. It said the proceeds would not be enough to meet the full value of its compensation obligations, which have been estimated at c$774m.
In July, the Christian Brothers and Edmund Rice Education Australia agreed to a revised creditors’ scheme. Under this arrangement, proceeds from property sales will be placed in a fund managed by scheme administrators. Creditors with settled claims, including abuse survivors, will be paid in full once sufficient funds are raised.
The Parkville estate is one of several properties being sold as part of this process. Others include the Dom Bosco Hostel and Youth Centre in Brunswick and a former retreat center in Lower Plenty, which sold earlier this year for $4.6m.
Colliers agents Ben Baines, Jozef Dickinson, and Philip Heberling are handling the sale on behalf of the Trustees of the Christian Brothers and Christian Brothers Oceania Province.
