Yarra News - May

Council invests in Bridge Road

1 May 2014 Edition

Mayor-YN-May-2014Richmond’s Bridge Road, well known as a shopping and dining precinct, will soon be home to a revitalised office and retail space following a strategic property investment by Council.

Council purchased the three storey office and retail building at 345 Bridge Road (about 40 metres east of the Richmond Town Hall) in December last year.

Council plans to commercially lease two floors of the building while the third floor will be used for Council staff accommodation.

The purchase is expected to help reinvigorate the Bridge Road retail strip by bringing a significant number of office staff from both the commercial sector and Council.

Council will be looking to attract major companies or organisations as tenants in the building, adding to the vibrant commercial mix along Bridge Road, complementing and supporting its retail and dining offerings.

Council proposes to allocate $2.4 million in its 2014/15 budget for building refurbishments, having borrowed $12 million in 2013/14 to purchase the building.

 


For more information, contact Mark Johannsen, Manager Building  Property Management, on 9205 5726 or at Mark.Johannsen@yarracity.vic.gov.au 

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