Capital Gain

Property titan and snow enthusiast Rino Grollo has snared one of the Catholic archdiocese’s recently listed East Melbourne properties for his ski resorts business.

Records show the Australian Alpine Institute (Vic), owned by Rino and Diana Grollo, has outlaid $10.54 million for 384-388 Albert Street.

384-388 Albert Street, East Melbourne

The Grollo Group confirmed the new digs will house the Buller Ski Lifts Group, Altiset and other associated tourism and property businesses which are currently based at 16 Harvey Street, Richmond.

It was a good deal for the Grollos. The archdiocese bought the mansion, part of the historic Burlington Terrace, from the Bionics Institute in late 2020 for $12 million.

The 1087-square-metre building is on an 892-square-metre corner block. The

See Full Page