LOCAL developers are believed to have paid about $20 million for an inner-city business park near the riverfront suburb border of Richmond and South Yarra.

Sources say prominent Richmond investors Michael Gannon and Gus Cooper have purchased the Maple Close complex, at 650 Church Street, from another private investor.

Currently configured as six low-rise buildings with a combined net lettable area of 6600 square metres, the complex is considered under-developed by today’s standards – especially seeing it has four street frontages.

Read more...