Masada sells Lindfield … again
MASADA College has taken a giant step towards securing its future by finally completing the sale of its property in Lindfield to Reddam House for $6.5 million.
MASADA College has taken a giant step towards securing its future by finally completing the sale of its property in Lindfield to Reddam House for $6.5 million.
The school, which has been suffering financially due to declining numbers of Jewish people on Sydney’s north shore, has been trying to sell the property for several years but due to the complexities of the site it has fallen through on each occasion.
College president David Guth described the sale as a “long and arduous process” that was “an important and critical step” to complete the school’s consolidation at St Ives.
“The sale achieves a long held desire of Masada College to consolidate all of its students on a single campus, an objective we have been trying to achieve since the early ’90s,” Guth said.
“I would like to think that this goes towards an overall plan for the long term future of Masada College and the entire north shore Jewish Community. We will now be able to move forward with the building of our new purpose built facility for early learning centre students at St Ives.”
The remaining proceeds from the sale after the classrooms are built will be used to create an endowment fund to help offset the cost of fee discounts that are provided to many families that struggle to afford private school fees.
Reddam, which opened in Bondi in 2000, will be opening an early learning centre in Lindfield and has agreed to act as a feeder to Masada College.
JOSHUA LEVI
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