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Development may dwarf The Block
The four homes in The Block are set for a $250 million, 333-dwelling apartment complex to be built opposite.
- Published by David Knox
- on
- Filed under News
The four homes that were built in The Block are set for new neighbours, with Coles planning to build for a $250 million, 333-dwelling apartment complex opposite Cameron Street, Richmond.
Coles currently owns Richmond Plaza, with a car park that faces Cameron Street, but it has lodged plans with Richmond Council to replace it with 12 storeys of apartments and shops.
Such development would directly impact on their real estate values.
One Block buyer told The Age, ”We thought Coles was going to be doing some revamping but we weren’t aware there was going to be an apartment block.”
The four properties were sold for a combined total of $3,637,000.
Nine is currently filming a new season in South Melbourne.
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2 Responses
Overall I think this is good news – the current Richmond plaza is really old and tired and needs re-developing.
Old news…was talked about on this site before the auction.