McGrathNicol offers permit-ready Steller site

The office permitted for 236 Coppin Street, Richmond.

A Richmond block which Steller was approved to replace with an office and apartment complex, was listed for sale this week.

The holding is one of seven offered by McGrathNicol, representing Asian financier OCP which is said to be owed more than $97 million by the builder.

The receiver is intending to bank $80m from the portfolio.

Covering 2037 square metres, forming an L-shape, the Richmond offering includes neighbouring sites:

  • 236 Coppin Street, permitted for a seven-storey office and currently seeking a pre-commitment, and
  • 314-320 Swan St, approved for the residential component.

Richmond’s KFC, which includes a large car park, abuts a portion of the Steller block (story continues below).

Colliers International’s Ted Dwyer, Trent Hobart and Matt Stagg are closing an expressions of interest campaign on November 27.

It is expected to sell for more than $15m.

Elsewhere in the suburb, Riverlee is proposing a 13-floor office on a smaller rectangle shaped block at, 484 Swan St.

Brady Group is also set to start construction of an 11-level hotel at 203-207 Bridge Road.

The Richmond site runs behind a terrace and KFC restaurant.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of