The funds are earmarked to finance $1 billion in developments of around 200 projects which the Church has underway or in planning.

First up for sale is a church on 5441 square metres of land at 321 Lower Heidelberg Road in pricey East Ivanhoe. The property, which has three street frontages, is expected to fetch around $10 million through an expressions of interest campaign handled by Colliers International.

A Uniting Church spokesman said "From time to time the Church identifies a rage of property assets considered surplus to current needs. It does not only include churches but also vacant land, halls, manses and tennis courts."

He said the 200 projects to be developed over a five-year period, included renovations and repairs to churches and manes.

The high-profile $450 million Lonsdale Street development dominates the $1 billion portfolio, but there are also plans to build a 33-level hotel and apartment tower, designed by Elenberg Fraser, on the Uniting Church Centre at 130 Little Collins Street with a development partner.

The church has entered into a 125-year leasehold arrangement with Leighton Properties to build a 34-level office tower on the Wesley Uniting Church site at 148 Lonsdale Street in which the church will lease office space. While the historic 1858 church will remain, though overshadowed, the Princess Mary Club next door will be demolished.

The Little Collins Street property is between Russell and Exhibition streets, behind the office tower at 120 Collins Street. According to a report by the church's Property Board, the development at 130 Little Collins Street would likely be sold. The church has up to 18 other property projects on its books, some of which include renovations for existing busy churches but others relate to its social justice mission focused on homelessness, mental health and refugee accommodation.

The East Ivanhoe church was earmarked for disposal in 2013 when the Uniting Church embarked on a sales program to help foot the bill from the failed Acacia College private school. But it is only now going to the market following a review of operations by a network of congregations in the Banyule area, according to a report to the Uniting Church Synod made by the church's property board.

It is understood no Uniting Church congregation has worshipped on the site for more than 20 years although the independent Bread of Life Church currently uses one of the three buildings there.

According to the property board's report, up to 65 church properties could be sold, in addition to 3000 square metres of surplus property at the South Melbourne Parish Mission's Southport Uniting Offices in Dorcas Street.

A new office project is proposed for the site which "has allowed the recovery of almost 3000 square metres of land valued at approximately $10 million which is surplus to the development.

The Uniting Church booked an operating surplus of $62.3 million in 2014 thanks to the sale of 74 churches, 21 of them in Melbourne. Queensland developer David Devine bought five of the priciest, paying $25 million for six churches. However, it is looking at an operating deficit of $2.3 million in 2016.

Last year, the church's archives centre at 64-66 Orrong Road in Elsternwick sold to a local developer for $4.326 million - a full $1 million above its reserve.