The Synod Standing Committee has resolved to investigate its options to divest the 130 Little Collins Street site.
It has developed a strategy – a transparent and open market Request for Proposal (RFP) – aimed at seeking market feedback on the best way to dispose of the site. An RFP provides the details necessary for prospective developers to prepare a bid. The RFP is due for release later this month.
A Project Control Group, reporting to the Property Board, will provide a single point of accountability.
It follows the Synod Standing Committee’s recent decision to relocate Synod operations to the Wesley Upper Lonsdale Street site once the planned redevelopment is completed in mid-2019.
After potential options are thoroughly explored, the Property Board will present a detailed report with proposals outlining its preferred 130 Little Collins Street disposal option to the Standing Committee in July 2015.
Proceeds from the sale or development of 130 Little Collins Street will support the Church’s future financial sustainability and ongoing mission.
The director of Property Services, Paul Walec, said current strong interest in commercial property within the CBD has created a buoyant market which means now is a good time for the Standing Committee to consider its options for the site.
The Standing Committee was informed four years ago of the need for a significant upgrade of 130 Little Collins Street after 2016, or alternative accommodation options would need to be considered.
“The building has come to the end of its asset life cycle,” Mr Walec said.
“The Standing Committee has chosen to move synod operations to the Wesley Upper Lonsdale Site. This will create a distinct Uniting Church hub in the centre of the city involving a place of worship, synod administration, local church community and social service operations.”
The Property Board will provide progress reports to Standing Committee in the lead up to the July meeting.