Wyndham councillor and businessman Intaj Khan has put the Mowbray College site in Caroline Springs on the market – with a hefty price tag.
Cr Khan, who bought the Caroline Springs campus in 2012 for $6.7 million, has hired commercial real estate agent Savills to run an expressions of interest period for the site, with an asking price of between $10 million and $14 million.
Mowbray’s three campuses closed in June, 2012, after the college amassed debts of more than $18 million.
In 2014, Cr Khan was offered $10.5 million from developers keen to turn the site into a shopping centre and carpark.
Cr Khan, who is founder and chief executive of the Western Institute of Technology, knocked the offer back because he wanted to re-open the site as a non-denominational private secondary college. But after struggling to get enough enrolments to make opening a new school viable, Cr Khan said his interest in the site had waned.
He said he was now keen to sell the site to an education provider, preferably an existing one that was looking to expand. He said the ready-made senior campus and its location in the heart of Caroline Springs were bound to attract some high offers.
“I’m not going to sell if I’m not happy with what’s being offered,” he said.
The move comes only weeks after Cr Khan unveiled plans for a $9.5 million mansion in Tarneit, complete with helipad and tennis court. But Cr Khan insisted he was not selling the college site to fund his mansion.
