Students in tears ahead of Shelford Girls’ Grammar merger

The last ever Shelford Girls’ Grammarstudents shed tears ahead of the takeover by Caulfield Grammar as the financial position of the struggling historic school was revealed.

Presentation night photos celebrating Shelford Grammar's last big night after 125 years. Picture: Facebook,

The last ever Shelford Girls’ Grammar students shed tears ahead of the takeover by Caulfield Grammar as the full financial position of the struggling historic school can be revealed.

The latest financial report for 2023 show the girls’ school sold a $2m property and took out a $8m bank loan last year before its closure this month after 125 years.

The takeover of the small girls’ educational institution by the co-ed behemoth was announced in November 2023 after years of merger talks.

At the end of last year, Shelford Girls’ Grammar posted a deficit of $792,883, following a $577,459 deficit the previous year, with Caulfield Grammar now taking on its debt.

The official number of students in 2023 was 427, but it’s understood many started leaving after the takeover by Caulfield Grammar was announced, with some year levels left with only a handful of students by the end of 2024.

The school will become part of Caulfield Grammar. Picture: Facebook.

The 2023 financial report notes that Shelford Girls’ Grammar secured a $8m debt facility from Westpac Bank on 18 April, 2024 for a term of 11 months.

The school also sold an investment property at 259 Glen Eira Rd, Caulfield North for $2.07m, with the sale finalised in January 2024.

Shelford wrapped up with total assets of $15.9m and net equity of $11m. It leased land and buildings from St Mary’s Church and had freehold land worth $2.6m as part of property

assets of $12m. It also had $1.2m in cash.

Key managers of the school were paid $1.03m in 2023 compared to $882,000 in 2022.

The school has federal grant liabilities of nearly $500,000 but its directors do not believe any repayment will be required.

Shelford Girls’ Grammar’s assets and liabilities transfer to Caulfield Grammar as part of the merger.

The presentation night was billed as the final public celebration for the historic school.

It comes as the Shelford presentation night on November 20 at Monash University was billed as the “final public celebration” and a “poignant opportunity to commemorate and farewell our wonderful school”.

One parent attending said the night was “sad but reflected on amazing history of Shelford and strong bonds and amazing efforts of students”.

“Tears were shed.”

One Shelford parent who has decided not to send her daughter to Caulfield Grammar after first paying a $2000 deposit said she was “annoyed at losing her money after being rushed to commit to the new school”.

“We did our own research and chose another school as it didn’t feel right.”

This property at 259 Glen Eira Rd Caulfield North was sold by the school for $2m.

Another parent said the transition to Caulfield Grammar was “quite seamless” as those involved “have had time to get used to the idea”.

“A high percentage are staying because Caulfield Grammar honoured existing scholarships. If this was not the case not as many would remain. The entire debacle is just so regrettable and should not have happened. Fingers crossed all of the girls integrate well into Caulfield,” he said.

A spokesman for Caulfield Grammar said the Shelford Girls’ Grammar Board directed the sale of an investment property prior to its merger with Caulfield Grammar School.

“Despite Shelford Girls’ Grammar incurring debt during its final year, Caulfield Grammar School was committed to ensuring that all students and staff were supported to successfully complete the school year. These debts will be managed appropriately in the future.”