Football Victoria (FV) would like to announce it has enlisted commercial real estate specialist Gross Waddell ICR to facilitate the sale of its Dorcas St, South Melbourne property.
The property, located at 236- 238 Dorcas St in South Melbourne served as FV’s headquarters from 1997 to 2004, prior to the move to Darebin International Sports Complex when the facility was outgrown. The vision and foresight of previous Directors enabled an asset which has supported the financial requirements of football in Victoria over many years.
Football Victoria is pleased to share the following information about the impending sale.
After several years of consideration and following FV’s relocation to the State Football Centre at The Home of the Matildas, La Trobe University, the Board unanimously resolved to sell the Dorcas St property.
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With the relocation to the State Football Centre (pictured above) marking an exciting new chapter for the organization, the Dorcas St offices are no longer required for operational use, deeming the funds generated by its sale better able to serve the organization and in turn, the broader Victorian football community.
Independent advice was sought, reputable real estate agencies were engaged. Following a review of all proposals, FV has appointed Gross Waddell ICR, a specialist in commercial real estate, to undertake the sales process.
The capital raised through the sale will form the Football Victoria Future Fund (FVFF) which is similar in nature to the Commonwealth Government Future Fund. The fund will be governed by a combination of independent Trustees and current Directors and will sit independent of the Football Victoria Board.
The funds will be governed by strict guidelines as to their investment and any prospective access. It is intended that the FVFF will accumulate to an agreed amount and only the income will be allocated towards operating expenses.
The sale process will commence over the coming month with a public auction to be conducted in November.