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Prime site for sale

11 May 2017

Prime site for sale Image

The University of Melbourne is selling a prominent Southbank site at 268 Sturt St.

Located near the corner of Kings Way next to the Melbourne Theatre Company’s (MTC) office building, the 4176-sqm site has been predominantly used as an open-air car park.

Colliers International is marketing the site and expressions of interest closed on May 5.

Dean of the Faculty of the Victorian College of the Arts (VCA) and Melbourne Conservatorium of Music (MCM) prof Barry Conyngham said the money from the site would be used to help fund its new MCM facility at 33 Sturt St.

“The conservatorium is very complicated business because it’s a huge amount of money for a very specialised building, which is as specialised as any scientific building and in some cases even more specialised,” he said.

“It did involve identifying assets that could be disposed of and the single biggest asset was the parking lot next to the MTC facility.”

Colliers agent Bryson Cameron said the “healthy” scale and position of the site opened up a vast array of development options and future uses.

“There is potential for large commercial floor plates, along with incredible visibility and exposure given its prominent position,” he said.

“Moreover, being located directly next to Sturt St Reserve, there are possible exciting integration opportunities for future uses.”

Mr Cameron said the site had also been on the radar of the City of Melbourne and the State Government for some time, with both earmarking it for a future strategic development.

“The government’s Melbourne Arts Precinct Blueprint describes 268 Sturt St as a ‘landmark site that punctuates the Sturt St south intersection with Kings Way as a major entry point to the Arts Precinct’,” he said.

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