Failed Mowbray College school site to fetch $11 million
A site slated for a new grammar school in Melbourne’s western suburbs will be sold after its owner, a local councillor, failed to get the project off the ground.
Wyndham City councillor Intaj Khan acquired the Caroline Springs property – one of three sites that housed the former Mowbray College, which went into liquidation four years ago – and had planned to build a new school, West Lakes Grammar, on it.
But despite receiving 80 applications from potential students, Cr Khan was forced to abandon the plan and is now selling the site, which is expected to fetch around $11 million.
I am saddened that I have been unable to provide the quality new school that the local community so desperately needs and deserves
It is understood that the school needed at least 220 enrolments to be viable.
Cr Khan, the founder and CEO of Western Institute of Technology, says he still hopes that a buyer may revive the project.
“I am saddened that I have been unable to provide the quality new school that the local community so desperately needs and deserves. I only hope that the new owner will proceed with my plans,” he says.
The property at 183-191 Caroline Springs Blvd is spread over 12,500sqm, with 250m of street frontage, and still contains Mowbray College’s buildings, including classrooms, staffrooms, a canteen, library and offices.
It is being marketed by Savills’ Julian Heatherich, James Lockwood and Nick Peden.
Heatherich says despite Cr Khan’s hopes that the school may still one day come to fruition, it had a variety of potential uses and was likely to attract interest from residential and commercial developers.
This property is so very well located in the heart of Caroline Springs core precinct within walking distance of every desirable amenity
“With three street frontages it also benefits from the enormous potential for conversion to residential, retirement, retail, offices and community uses (subject to council approval) within one of Melbourne’s fastest growing regions,’’ he says.
“This property is so very well located in the heart of Caroline Springs core precinct within walking distance of every desirable amenity.It is diagonally opposite Lake Caroline, virtually across the road from State Swim (school) and Caroline Springs Leisure Centre and opposite Caroline Springs’ retail zone.”
Mowbray College was placed into receivership in 2012 with debts of $28 million, leaving more than 700 students without a school.