Flight Centre founder quietly sells Melbourne office
Flight Centre founder Geoff Harris has quietly sold an inner city Melbourne investment.
The two storey warehouse converted office at 146-156 Wellington Street, Collingwood (Google Street View image, top), collected $6.8 million following an off-market deal.
Treaty Authority is the buyer, it is speculated with plans to occupy.
Another not-for-profit, the Reach Foundation, has occupied since 2001.
The deal comes 17 months since the Victorian Aboriginal Community Controlled Health Organisation, or VACCHO, acquired a half dozen Sackville St, Collingwood assets, to occupy and use as an investments – spending $16.5m
Last July meanwhile we reported another altruistic organisation, Independence Australia, bought a Wellington St office in the suburb to occupy – for just over $3m.
Stonebridge’s Max Warren and Dylan Kilner were the agents (story continues below).
Nifty return
With 1135 square metres, 146-156 Wellington St occupies a 705 sqm site zoned Commercial 2.
Mr Harris paid $1.73m in 2001, renting it at below market rates, according to sources.
In June we reported HFH Auto Group, established by the executive over 30 years and now run by his son, Jonathan, was buying the ex-Victorian Livestock Exchange at Pakenham, to occupy.
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