Xavier College lists Kostka Hall, Brighton, campus for $120m
The Kostka Hall site is some prime real estate.
Xavier College is looking to bank $120m with the listing of its Brighton Kostka Hall campus in a sale that would shatter the suburb’s $32m property price record set in 2016.
The 3.292ha campus has been under the Catholic Jesuit private school’s ownership since 1937, before a 2020 decision to close the South Rd site amid reported dwindling enrolment.
Jacx property’s Michael Jackson is handling the sale on behalf of the school, with Colliers agents John Marasco, Trent Hobart, Hamish Burgess and Yvonne Zhou appointed.
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Mr Marasco said the property “suited a multiple number of uses” including as another school and he expected “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 said.
The suburb’s property price record was set with the $32.08m sale of 100 Church St in 2016. And the residential price record was set last year with the huge $25m sale of the Zagame hospitality family’s ritzy beachfront mansion at 27-29 Kent Ave.
Redemptorist missionaries were poised to break that record last year with the $25m listing of 257 St Kilda St, which failed to sell after gaining interim state heritage protection.
Inquiries are welcome ahead of the Kostka Hall property formally being listed next month in an expressions of interest campaign private sale campaign, set to close in June.
The Herald Sun reported in 2020 money reaped from the sale would fund aged care needs of Australian Jesuits and the Father General’s Fund for Charitable and Social Needs.
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emily.holgate@news.com.au
