The Australian Red Cross is divesting and has put its QLD head office located on Park Road, Milton on the market.
Humanity Place is up for sale for the first time in 15 years, and Red Cross hopes to reinvest the proceeds into its services. Australian Red Cross has owned and occupied Humanity Place since acquiring the property from Fort Lane Properties for $6.8 million in 2004.
The sale is part of the national property master plan which involves divestment from several key properties to allow the not-for-profit organisation to work in locations that are more affordable to own or lease and best serve their clients, volunteers, staff, and partners.
Humanity Place, with a net lettable area of approximately 2,638 sqm, is a three-level freehold property with 57 secure basement parking bays. The 1,902sqm corner site located at 49-57 Park Rd in Milton offers potential future development of up to eight storeys high, as well as holding income from Red Cross on flexible leaseback arrangements.
Knight Frank and Colliers International will run the national expression of interest campaign which will close on 13 November 2019. The property boasts of a 4.0 Star NABERS Energy Rating.
Red Cross has also recently listed two adjoining sites in Carlton, Melbourne as part of its divestment program. The 2,038sqm Carlton property located at 163-175 Bouverie Street and 147-155 Pelham Street has served as ARC’s Victorian headquarters prior to organisation relocating to Villiers Street in North Melbourne. The site contains two offices and basement parking, with a total lettable area of 2,700sqm.