Brighton’s well known Kostka Hall is set to attract the attention of a diverse range of developers and organisations eager to secure the opportunity to repurpose one of the state’s most prestigious properties.

Colliers’ John Marasco, Trent Hobart, Hamish Burgess and Yvonne Zhou have been appointed on behalf of Michael Jackson of JACX property to sell the generationally rare 32,920sqm (3.292ha) prime bayside landholding with major frontages to Hartley Street, South Road and New Street in the premium, tightly held suburb of Brighton.

Agents expect this once-in-a-generation development opportunity to attract wide-ranging and competitive interest from developers and institutions spanning the residential, commercial, education, healthcare, aged care and religious sectors with its high profile location, substantial scale and favourable zoning.

“Colliers is proud to have been exclusively appointed by Michael Jackson, Managing Director of Jacx Property as transaction manager on behalf of the ownership group to act as the exclusive sales agents on this once-in-a-generation site that has not been offered to the market for more than 70 years,” Mr Marasco said.

Known as Kostka Hall, the property was formerly used as the southern suburb’s education campus of Xavier College. It includes various buildings used for education facilities and a heritage-noted building fronting Hartley Street, along with three tennis courts and two sports ovals.

“This is the largest site offered in Brighton in the 21st century and given the location, it represents one of the most prestigious and rare real estate prospects in Melbourne, if not Australia,” Mr Hobart said.

“It is an ideal opportunity for a developer to design an outcome that caters to the affluent owner occupier and retiree market who are drawn to this premium location. This bayside treasure will also be highly desired by a range of education, religious, healthcare and retirement institutions, among many others, given its location, outstanding current improvements and sporting facilities.”

The property is located within 500m of Brighton Beach Train Station, Brighton Beach and the Brighton Beach Gardens.

“This is an unparalleled development opportunity. Brighton is one of Melbourne’s most prestigious, established and affluent suburbs and the beachside amenity, heritage streetscapes, access to transport and the village character of the local retail strips will further enhance the substantial appeal of the property,” Mr Marasco said. “The underlying and enduring strength of Brighton is confirmed by its median house price being ranked in the top 1% of Melbourne’s suburbs every year since 1980.

Mr Hobart said: “This is also a once-in-a-lifetime opportunity for one of the private schools of Melbourne or healthcare occupiers to secure such a landmark landholding. The opportunities in the market to secure 32,920sqm of land in walking distance to a train station in any location, albeit in the heart of Brighton just don’t exist.”

Mr Burgess said consistently high demand from well-resourced buyers in the Brighton market, coupled with limited availability and record low interest rates, would see a diverse array of groups compete in a landmark suburban land sale.

“Given the magnitude of the land in a premium inner Melbourne suburb this is truly an unrepeatable infill development opportunity of scale for the Australian market,” he said. “This opportunity for scale and the irreplaceable improvements across the site will attract interest from a broad range of groups eager for the opportunity to re-shape the Brighton area.”

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.