OfficeLindsay SaundersSun 10 May 26
Catholic Church Brings East Melbourne Offices to Market
A prominent East Melbourne office asset has come to market as the Catholic Archdiocese of Melbourne reshapes its property holdings
The eight-storey property at 228 Victoria Parade is being offered for sale through Cushman & Wakefield directors Oliver Hay, Daniel Wolman and Leon Ma alongside transaction advisers Jessica Crossland and Conor Sargent on behalf of the archdiocese.
The archdiocese said the property was being sold because it “no longer serves a purpose aligned with the current mission priorities of the archdiocese”.
“Proceeds from the sale will be directed towards advancing key Archdiocesan initiatives,” it said in a release.
The building, acquired in 1996, has been used by Melbourne Archdiocese Catholic Schools as its head office, which will relocate to an office near the St Patrick’s Cathedral precinct.
The campaign comes amid ongoing demand for East Melbourne assets, driven by the suburb’s proximity to the CBD, institutional occupiers and limited supply of character buildings with repositioning potential.
Hay said the offering was expected to attract a broad range of buyers seeking exposure to one of Melbourne’s most tightly held city-fringe markets.
“East Melbourne presents one of the country’s most tightly held and constrained property markets due to the very limited development land and strong heritage controls resulting in any future supply growth being structurally constrained,” he said.
“Seldom does the opportunity to purchase a building of more than 5000sq m within the epicentre of Melbourne’s hospital, university and Fitzroy Gardens precinct present itself.”
Crossland said the property’s location within a major institutional and medical precinct would support buyer interest from a range of sectors.
“East Melbourne remains one of the most sought-after city-fringe markets, supported by its connectivity, amenity and proximity to key health and education institutions,” she said.
“Opportunities to acquire assets with both immediate utility and longer-term flexibility are increasingly scarce in this market.”
“We expect interest from owner-occupiers, value-add investors and adaptive re-use developers.”
In 2024, the archdiocese told the Yoorrook Justice Commission it owned about 350 church sites across Victoria spanning about 112ha and worth about $3.3 billion at the time.
In mid-2025, the archdiocese sold four Albert Street properties for a combined $21.8 million.
In October, it sold a double-storey, Victorian-style building at 384-388 Albert Street, once home to The Bionics Institute of Australia. Ski tsar and property tycoon Rino Grollo and Diana Grollo paid $10.45 million for the asset, according to reports.
And in February, the church sold three terrace homes also on Albert Street for $11.36 million.
A philanthropic group was reportedly behind that deal. It’s plans for the site are yet to be revealed.
