By ANNA USHER

Monte Sant’ Angelo Mercy College has made a major strategic move in North Sydney, acquiring two adjoining office buildings next to the Victoria Cross Metro Station in a deal understood to be in the mid to upper $20 million range.

Colliers confirmed it has successfully completed the sale of 194 and 196A Miller Street, North Sydney – two contiguous office assets – on behalf of the NSW Government.

The transaction was managed by Colliers agents Tom Appleby, Joseph Lin and Charlie Gilmour, with the 2,289sqm combined buildings ultimately acquired by the adjoining landowner, Monte, as part of a long-term footprint consolidation.

Monte Principal Nicole Christensen said the purchase marked a significant milestone for the school and its future direction.

“Today marks an exciting new chapter for our college and for the future of girls’ education,” Ms Christensen said.

“This building represents more than bricks and mortar – it is an investment in the potential, courage, and leadership of every young woman who walks through our doors.

“This purchase ensures we continue to grow, innovate, and lead the way in empowering young women to thrive.”

Colliers said the school’s decision to expand aligns with growing demand from local families, following the recent influx of new residential developments close to the North Sydney CBD and metro precinct.

The properties were previously rented by Lendlease, which utilised the buildings as a site office during construction of the 55,000sqm VicX Tower, anticipated to be completed next month.

Colliers said the combined sale reflected a sub-1 per cent net return, and described a highly competitive campaign that drew interest across occupiers, investors and developers.

“The highly competitive campaign drew strong interest from occupiers, investors and developers given the opportunity’s flexible fundamentals,” Mr Appleby said.

“The mixed use zoning, proximity to the Metro Station, and generous car parking ratio were key.”