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Melbourne-based lawyer Lee Flanagan is the most recent developer to move into the CBD office fringe market, filing plans for a five-storey office building in Richmond.
The 614sq m site at 90A to 98 Bridge Road at Richmond was bought in August, 2017, for $5.1 million, according to property records.
Title deeds for the site list Leemedlegal Pty Ltd as the owner of the site with council records listing the company as the applicant on the plans.
ASIC records show that Lee Flanagan is the director of Leemedlegal.
The plans request permission to demolish existing commercial structures on the site on 90A-96 Bridge Road and build a five-storey office complex.
The construction work planned would impact the boundary wall between 96 and 98 Bridge Road, which is why it is included in the application, although the development doesn’t extend on to the property of 98 Bridge Road.
The John Wardle Architects-designed plans include a basement level with 16 carparking spaces and end-of-trip facilities.
As the building is sited on a slope down into Verity Street, there would be a lower ground level with an office as well as a lobby and carpark access.
The ground floor would have the main entrance, lobby and a large office space.
The office space would continue on the first to fourth floors, progressively decreasing in size with the building’s stepped design.
The fourth floor would have a terrace as well as a plant room and space for photovoltaic cells.
The expected gross floor area is 3132sq m with a net lettable area of 1723 square metres.
The entire building would have a maximum height of 18m and council records state a cost of $13.5 million for the entire project.
Bridge Road has been an attractive location for developers investing in Melbourne’s fringe suburbs.
In 2015, 150-152 Bridge Road sold for $11 million and this year HLL Development filed plans for a hotel with a cost estimate of $16.25 million.
BG Estate also filed $7 million plans for an eight-storey office project at 393 Bridge Road.
The Urban Developer contacted Lee Flanagan for comment but had not received a response prior to publication.
