100-year-old Chinese Church of Christ in Carlton finds new buyer

Christina Karras

First published 23 August 2021, 3:26pm

148-150 Queensberry St, Carlton, has been picked up by a developer.

A Carlton church has fetched $4.2m in its first time sale in more than 100 years, as the commercial property market powers through lockdown.

Savills Melbourne’s Clinton Baxter said a local developer beat a mix of other developers, investors and owner occupiers to purchase the Chinese Church of Christ at 148-150 Queensberry St.

The 362sq m block is in a prime location between the University of Melbourne and RMIT University, with no heritage overlay, and its flexible mixed used zone meant the buyer had the option to redevelop the building into a high rise.

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The spacious block.

More than a century of history as a church.

“(The buyer) is going to look at the various development options open to them and (they will) certainly focus on the opportunity for more height,” Mr Baxter said.

“I suspect it’ll either become apartments, student accommodation or a boutique hotel.”

But the building also could’ve been transformed into a trendy cafe, as it had attracted a “couple of owner occupiers” who wanted to retain the original building and use it as a unique hospitality venue.

“Think of Higher Ground in Little Bourke St, where they converted an old power station into a cafe, that sort of thing seemed to be what some buyers were considering – but ultimately it went to the developer,” Mr Baxter said.

He said that Melbourne’s latest lockdowns “miraculously” hadn’t impacted the turnover of the commercial market.

It could have been converted into an unconventional cafe.

A room is currently set up as a classroom for Sunday school.

The potential new development will fit in among the current high-rises nearby.

“(Unlike) the first lockdown last year when the market really stalled and digested the information of a global pandemic … the wheels have kept turning,” Mr Baxter added.

“There are a few vendors who are reluctant to put their properties on the market, but it’s almost as if people have more time to focus on getting transitions done (in lockdown).

“Buyers by their nature are very optimistic on the future and with the number of vaccinated people on the rise, it’s giving some extra hope.”

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