The College of Law has recently taken a decision to investigate sale of the property at 2 Chandos Street, St Leonards with a view to relocating to a new, more modern and more suitable main campus facility.
The College has set a timeframe of 2-3 years to identify a new location and to undertake the move. This has also led the College to look at divesting its head office building, which it has occupied for over 40 years, at 2 Chandos Street, St Leonards.
Jon Chomley and Henry Burke of Colliers International have been selected by the College to market the 2 Chandos St. The property will be offered with a leaseback for 2 years with 2 options of 6 months each to the College of Law.
Mr Neville Carter, the Chief Executive Officer of the College of Law said “The College of Law has had a long and very enjoyable occupation of 2 Chandos Street, however the opportunity to grow the College now relies on moving to a more suitable facility with more sophisticated capability to service the needs of a student body now spread across Australia, New Zealand and South East Asia. We will be sorry to relocate from St Leonards but we continue to be approached by developers for our building and we believe a sale in the current market will be the best course of action for the College”.
Jon Chomley, National Director of Colliers said “there is an enormous demand for residential development sites in St Leonards and the College of Law is in a prime position being only metres from the railway station and the Forum shopping centre”.
Henry Burke added “whilst the land will have to go through a rezoning, the leaseback to the College of Law will provide a holding return on the property whilst a new owner goes through the rezoning process”.
2 Chandos Street sits on a site area of approximately 1,379 and the building has an NLA of some 4,605sqm. It is currently zoned Commercial B3 under the Willoughby LEP 2012.