Deal Corporation to Reap $20 Million From Richmond Building

Built on the site of what was Australia’s first fairground in the 1850s, near the famous Nylex sign, Era has been redeveloped into a high-rise apartment build-ing and townhouse project with 4000 sq m of office space. The project, designed by Plus Archi-tecture, includes retail space, a communal garden and a swim-ming pool.

Publisher John Wiley & Sons last year committed to 2348 sq m, or two levels of offices. The rest of the office space was leased to fashion chain Esprit and smaller tenants.

Jones Lang LaSalle directors Robert Anderson and Steve Messina are marketing Era’s commercial property component for sale. Mr Anderson said the fact that the office component was fully let on completion was testament to Richmond’s position as a tenant magnet.

He said recent office develop-ments by Salta and Walker Corporation were improving the acceptance of Richmond as an office location, and expected it would continue to attract gener-ations X and Y to work there.

Era apartments and town-houses sold off the plan last year. Residents moved in about two months ago.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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