Newspapers wrong on sale of Mathoura Rd. property

Twice in a month Melbourne’s two daily newspapers have reported that the ADAVB sold its former office in Mathoura Rd., Toorak, last month for less than an earlier offer. This is entirely incorrect - the Branch sold the property in November 2007 at the top end of the market.

The Herald Sun made the erroneous claim several weeks ago and The Sunday Age yesterday compounded the mistake.

The Herald Sun corrected the error and the ADAVB has asked for a ‘We were wrong’ statement following the Sunday Age story.

The facts are:

• The ADAVB sold its property in November 2007 before the market downturn
• The property was sold to Walton Construction Pty Ltd for $3.8 million
• The auction held in April 2008, at which the property was passed in, was conducted on behalf of Walton.

The ADAVB has occupied its new headquarters at Level 3, 10 Yarra St since late March 2008. Members should not be concerned about the finances of the Branch as the ADAVB owns its South Yarra property outright and is debt free.