Canberra, 9 December 2020: As previously advised, ALIA’s property at 9-11 Napier Close, Deakin – ALIA House – was listed for sale in September 2020. On 9 December, an unconditional contract of sale was signed with Barwon Investment Partners, for a total of $6.2M with completion on 22 December 2020.
ALIA past-President and chair of the Property Advisory Committee Robert Knight said, ‘This is an excellent result. The sale of the property will give ALIA the opportunity to operate beyond the limits of a building in one city, and opens up the prospect of the agile, flexible future for the association, which we set as our goal 18 months ago, when this process began.’
With its headquarters in Sydney, Barwon Investment Partners is a fund manager, with institutional healthcare properties across Australia, including the John James Health Care Campus which adjoins ALIA House. Acquiring ALIA House will provide the Health Care Campus with additional office space or room for future expansion of its community health facilities.
Robert Knight again, ‘We are pleased that the property which has served the Association so well in the past, will continue to be our home for a number of years to come, and that our new landlord will be an organisation with its roots in community health. Something which is closely aligned to ALIA’s objects and values.’
There are no plans for ALIA to move from Canberra. The Association will remain as tenants for a five-year period, and the building will retain the name of ALIA House during this time. ALIA will have $6M to invest in an alternative asset base.
There are no current plans for ALIA to purchase a new property. Owning another property that is right-sized for the future needs of the Association is one of the possibilities that can be considered in the medium term. However, at this stage, ALIA will be looking into ethical and socially responsible investment options to create a flexible asset base, to have as a reserve, not for operational use.
If you have any questions about the sale, please contact [email protected].