Development interest in Melbourne’s city fringe remains strong with plans filed for an office tower in Richmond.
Richmond developer Beams Projects has filed plans for 17-19, 21 and 23 Wangaratta Street and 68 Tanner Street with the City of Yarra council for a six-storey office tower.
The tower in Melbourne’s inner east would have retail spaces on the ground floor and a basement level for carparking.
Architects MA and Co designed the plans for the 1146sq m site that is justa few blocks down from Beams Projects’ previous office tower in the suburb.
The estimated cost of works is $21 million, according to documents submitted with the application to the council.
CoreLogic property records show that 17-19 Wangaratta Street was last sold in July 2017 for $2.6 million.
In December 2017, 21 Wangaratta Street was sold for $2.1 million with 23 Wangaratta Street sold in November 2018 for $4.27 million, while 68 Tanner Street was sold for $5 million in September, 2021.
Title deeds submitted with the application to the council show 17 Wangaratta Street Pty Ltd as the proprietor for the four properties.
ASIC records show that Paul James Myers, Christopher Gerald Mulcahy and Alastair James Wilson are the directors of 17 Wangaratta Street Pty Ltd, with Myers notably a director of Beams Projects.
Beams Projects has previously completed a number of projects on Wangaratta Street, most notably 45 Wangaratta Street, another six-storey commercial building, which won a 2021 National Architecture Award for Commercial Architecture.
While investors debate the strength of the office market, activity abounds in Richmond with large projects planned or in the works, including the Richmond Traders site, as developers look to add more housing to the suburb.
