CONSTRUCTION of a new apartment tower at the busy intersection of Burnley and Victoria streets, in Richmond, is set to start this year, after developer Salta achieved enough apartment pre-sales to get its $100 million aplacetolive project out of the ground.

Marketing of Sienna, the second of four apartment building within the aplacetolive project, is now underway. Almost all of the 88 units in the first building, Jade, have sold.

PLANS to redevelop Richmond's outgoing Dimmeys store into two apartment buildings, rising eight and 11 stories, have been critised by locals.

The new proposal, which replaces one last year whereby just a nine level building would be developed on the site, has been lodged by Richmond Icon, a development company associated with Melbourne's wealthy Liberman family.

Richmond Icon paid Dimmeys $16 million for the outgoing site in 2008.

INDUSTRY Superannuation Property Trust has made $16.75 million from the sale of a prominent office building in Melbourne's inner eastern suburb of Richmond.

The building at Lot 1, 658 Church Street sits on a 7,064 square metre site, and was sold with a permit for a 20,000 square metre office.

The office was purchased by a consortium headed by Bill Boerkamp, according to today's AFR.

SALTA Properties is looking to develop one of the several properties it owns around the busy corner of Victoria and Burnley streets, at the suburb border of Richmond and Abbotsford.
 
The Yarra City Council has granted Salta approval to build a $100 million apartment and townhouse project between 10 – 30 Burnley Street Richmond, and opposite the Burnley Street entrance of the Victoria Gardens Shopping Centre, which Salta owns with Centro Properties Group.
 
The aplacetolive.com.au development will include 355 apartments across a suite of individual buildings with distinct identities: Jade at 10 Burnley Street, Ruby at 20 Burnley Street, Ivory at 28 Burnley Street and Sienna at 30 Burnley Street. 

An undisclosed private investor has paid $3.1 million for a showroom and office building with redevelopment potential in Swan Street Richmond.

A syndicate of private investors said to include former Collingwood footballer Damian Monkhorst is believed to have paid $12.5 million for the former Coogi Knitwear factory at 49 - 65 Coppin Street in Richmond in an off-market deal.

Investa is believed to be formalising a deal to buy the last two development sites at the Botanicca Corporate Park in Richmond.