Sources say the 6000 square metre development site, which has frontage to Coppin, Abinger and Lord streets, was sold with a permit for a 14,000 square metre commercial office and showroom complex.
It was offloaded by private developer Belgrave Group, which bought the property off Coogi Knitwear in 1999 for around $6 million.
A spokesman from the Belgrave Group confirmed the property had sold but declined to elaborate on buyer or price. Belgrave is developing several other projects in Richmond including an office building on the former Strathfield Car Radio site on Punt Road, near the Monash Freeway entrance.
Coogi relocated from Richmond to the former Yarra Falls Knitting Mills factory in Abbotsford in 1999. It later experienced financial difficulties, forcing it to sell the Abbotsford site to Computershare, which uses part of the site as its global headquarters.