The 3.22 hectares Bayswater site bought by Melbourne’s Palesviaki Enosis for $161,000 in 1983 is on the market, Neos Kosmos can confirm.
“The decision was voted unanimously by the General Assembly,” the Club’s President John Karanikolas said on Sunday.
Located on Waldheim Road, the property is expected to sell for over $8 million.
Developer interest in the site is significant as it has capacity to fit about 30 townhouses, and the property scale allows for accommodating commercial investment buildings. Other bids could also come from Greek associations.
When bought by the Lesvos Culture Club, the almost rectangular parcel of land operated as a farm. But residential development has boomed in the area in the years since.
“If we sell at the expected price, we plan to purchase a new site for the Club that will better serve our members’ needs,” Mr Karanicolas told Neos Kosmos.
Major arterials nearby include Eastlink, Maroondah Highway and Canterbury Road.
The property has been listed by LAWD.
