225 Progress Road, Richlands

Property Summary as at Sale Date

Ownership
100%
Acquisition date
June 2015
Sale date
September 2017
Site Area
11,288 m2
Sale Price
$3 Million

In 2015, CBIC acquired this site which immediately adjoins the Richlands Railway Station. CBIC obtained a preliminary approval for a retail centre, with uses such as food and beverage, health care, retail and indoor sport and recreation services.

The opportunity arose for CBIC to sell the site with a development permit in place to a retail developer looking for a high profile site. The sale was settled in September 2017.