Caydon Property Buys Prominent Richmond Site, $50 Million Mixed Use Development Planned

Melbourne-based developer Caydon Property will build a $50 million mixed use building on the banks of the Yarra River, in Cremorne.

Caydon paid $6.15 million after auction for the 3,050 square metre development site on the corner of Harcourt Parade and Cremorne Street, next door to the heritage listed Nylex Clock.

The name Cremorne is given to the riverside precinct of Richmond.

Colliers International associate industrial and investment sales, Jeremy Gruzewski said the proposed office, residential and retail development, will offer superb Yarra River views, plus be within walking distance from the MCG, Richmond train station, Botanic Gardens and Chapel Street South Yarra retail strip.

The site has a 79 metre frontage to the M1 (Citylink), and includes a 4,075 square metre warehouse.

Caydon’s other major projects include a 100-unit residential development in Stanley Street Collingwood, and an 81-unit residential development in Hopkins Street Footscray.

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