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).
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.