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December 03, 2014

$22-Million Gift to Establish U. of Melbourne Art Gallery

Australian property magnate Michael Buxton will donate his contemporary-art collection to the University of Melbourne along with funds to build a gallery to house it, Melbourne daily The Age reports.

The art trove, amassed over two decades and valued at $8.5-million, includes more than 300 works by dozens of Australian artists. Mr. Buxton is giving another $13.5-million toward construction of the Michael Buxton Centre of Contemporary Arts, slated to open in late 2017 as part of a long-planned arts district in Melbourne.