Investa Buys Botanicca Corporate Park Development Site in Richmond

Sources say Investa will pay more than $15 million for the sites known as Lot 1 and 2, in the Swan Street business park. The two adjoining lots total more than 9,500 square metres, or almost one hectare. Last month it was reported developer Warren Thompson purchased Lots 3 and 4, in a deal worth $12.5 million. Those land parcels totaled around 7500 square metres.

Late last year, Botanicca Corporate park developer RMAC Australia, a joint venture between R.Corporation and Macquarie Bank put the four lots, including a building leased to Zenyth Therapeutics on the market. The blocks were sold with planning permits to develop 22,000 square metres of offices.

According to one source, there is a chance General Electric, which has its Australasian headquarters at Botanicca, may soon need more space and might pre-commit to one of the sites.

Colliers International’s manager – commercial sales and investments Peter Bremner who marketed the property declined to comment when contacted by Capital Gain. A spokeswoman from Investa also declined to comment.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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