Tom Shelton’s Kensington childcare centre sold at auction
Tom Shelton’s Bridport Property, a child-centre located in the Melbourne suburb of Kensington, has sold for $8,250,000 at auction.
The former office building-turned-childcare centre has a land area of 824 square metres and a building area of 1,451 square metres.
It has a passing income of $450,800 and is zoned Mixed Use – allowing for development of up to eight-storeys.
The landmark site at 64-66 Stubbs Street is well-known for its red brick finish, the only one in the area, and benefits from dual street frontages.
The centre’s building is classified by the state government as historically significant for demonstrating the historical and social development of the area (Kensington), making it of important aesthetic or scientific contribution.
Located in the state government’s Arden Urban Renewal Precinct, an area slated to become a global knowledge hub and central city destination, Kensington has significant growth potential – the area is expected to act as a base for 34,000 jobs by 2051.
The precinct has been rezoned to cater for population growth and will create a sustainable living and working environment, featuring cycle paths, green spaces and a newly constructed train station, Arden Central.
