THE Church of Scientology is close to selling its Russell Street
headquarters, as it prepares to leave the CBD.
Sources say the church will reap about $8 million for the four-level
heritage building, on the corner of Flinders Lane. It paid $720,000 in 1980.
The church, whose members include Kirstie Alley, Tom Cruise and Lisa
Marie Presley, is restoring and renovating the former Sisters of Mercy
College in Ascot Vale.
It is expected to move to the premises on Mt Alexander Road before the
end of the year.
Jones Lang LaSalle’s Damien Steele is believed to be involved in the
sale, but he declined to comment.
Scientology financial data
Extra information for referencers:
Author of the chronicle: Marc Pallisco
Well, this explains were CoS was getting the money to buy the new
building. I didn't know the current place had appreciated so much. I
would have told the Australian reporter who emailed me asking where
CoS was getting the cash when it does so little business in Australia.
> The church, whose members include Kirstie Alley, Tom Cruise and Lisa
> Marie Presley
After fifty years of offering the research of philanthopist and
philosopher L Ron Hubbard to the world, the Scientology religion is being
labelled by the Merchants of Chaos as a rest home for aging Hollywood
And they are too brainwashed to see that Hollywood is now a tiger by the
tail. Pretty soon others will see that DM can't touch them now, they have
HIM by the balls now.
A lot of development has occurred next door there over the years in
Russell Street with the hotels. It's probably not hard to sell and real
estate prices are over the top. Hotels there might have been trying to
Sadly, the land under the Toronto Org is jumping in value due to a wave of
development coming down Yonge St from Bloor. If they could pick their
moment to sell, they could make a *lot* of money.
In spite of their fapping to CAD pr0n, the building is hopeless.
(They continue to tart up the same 1982 picture of the org.)
Gregg says that they are locked in by one the mortgages on the property
until 2010 or so. If so, then they might miss the main bubble, and rather
than buying up some impressive elephant downtown, they'd have to move to a
strip mall in Mississauga.
Ron of that ilk.