Franciscans sell Melbourne property for $8 million
The Franciscan Order of the Friars Minor has sold its landmark Kew property La Verna for about $8.3 million.
Fr Stephen Bliss declined to comment on the sale, citing a confidentiality agreement. Fr Bliss said the proceeds would be used to look after "our older priests and brothers".
Boroondara Council confirmed the site was the subject of a subdivision application which was in contention. Once sub-divided and developed, the land will be worth considerably more. One block has already been sold by the new owner for $1.8 million, and there is reportedly strong demand for the remaining lots.
The sale of the La Verna site has had a controversial history. A contract for the asking price of $8 million had been secured by Kew-based agent Valda Walsh last April. But when the church received advice it could secure as much as $12 million for the site, it decided to put it to tender. But a seven-month tender process yielded only marginally more.
Franciscan Friars: Province of the Holy Spirit
24 Feb 2003