A jaw-dropping $7.1 million transaction has just taken place in Melbourne's real estate market, and it involves a school's ambitious expansion plan. But here's where it gets controversial...
The Penleigh and Essendon Grammar School has acquired the house next door, a stunning Victorian Italianate residence known as Rosina. With its five bedrooms, landscaped gardens, and a host of luxurious features, this property is a true gem. Imagine a central ballroom, high ceilings, and solid timber floors - it's like stepping into a period drama!
And this is the part most people miss: the connection to TV's Underbelly. Yes, this very house was featured in the popular crime drama, adding a touch of celebrity to an already impressive property.
The school's property trust made the purchase, and with good reason. The residence shares a boundary with the junior girls' campus, providing an opportunity for expansion and a unique learning environment. With its swimming pool, al fresco area, and close proximity to amenities, it's easy to see why the school made this move.
However, the price tag is sure to spark debate. The home was initially listed for $7.8 million to $8.58 million, and while it eventually sold for $7.1 million, it's still a significant sum. Is this a wise investment for an educational institution?
As we delve into the world of Melbourne's real estate and education, we find intriguing stories like this. From Preshil's purchase of a piano factory to the University of Melbourne's sale of a vice chancellor's home, these transactions offer a glimpse into the unique dynamics of the city's property market.
So, what do you think? Is this a smart move by the school, or a controversial decision? We'd love to hear your thoughts in the comments below!
