Gross Waddell and Burgess Rawson are pleased to announce the sale of The SEN radio office building at 471-479 Swan Street & 10 Belgravia Street Richmond. The property boasts a substantial landholding of 3,025sqm has changed hands.
The supersite located at the eastern end of Swan Street attracted in excess of 200 enquiries from a range of investors, owner occupiers and local & offshore developers. Following multiple rounds of the Expressions of Interest campaign that included receipt of 8 offers, the property sold to local developers Ross Pelligra Chairman of Pelligra Group and Robert Brij Director of ResiCommercial who will embark to develop a landmark mixed use project comprising retail and residential.
Ross Pelligra stated “With such an iconic site we wanted to make sure that we were delivering a project that would meet the needs of modern Melbournians and create a building that will be globally recognised. With the building being home to SEN for so many years, we want to ensure the project will have a major focus on delivering a vibrant new work place bringing more jobs and new business to Swan Street Richmond. We will work closely with the City of Yarra and our design team to ensure that this site is something that both local residents and international visitors can enjoy for many years to come.“
ResiCommercial Director Robert Brij who will be managing the development said “The site ticked all the boxes for us. It’s 50m from Burnley Train Station, has a tram stop on its door step, 300m from the Monash Freeway, is a stones throw away from the MCG, Rod Laver Arena and some of Melbourne best, restaurants, bars and nightlife, and 3km from the CBD; everything that the modern Melbournian desires. As a result, we’ve commenced an international design competition and will seek to appoint an architecture and interior design team that can deliver this iconic project. Our aim is to deliver a desirable destination for local residents to eat, work and live.
Gross Waddells Andrew Thorburn said “Securing this strategic land parcel will allow the purchasers to benefit from the huge demand for residential and retail space forecasted over the next two to five years within the City of Yarra. We’ve sold a number of sites close by and its always encouraging the level of enquiry received.”
Rick Silberman, who heads up Development Site Sales at Burgess Rawson comments, “we expected an asset of this nature to garner a lot of interest because they don’t come up very often. It was great to see the level of activity and appetite still present in the marketplace which bodes well for owners looking to capitalise on sites with future redevelopment potential.”
For more information, please contact Andrew Thorburn on 0488 440 715.