Construction begins at Studio Nine
Construction has commenced on the Wertheim Square apartments in Lend Lease’s Studio Nine development in Richmond.
Prices in the inner-Melbourne block currently start at $649,000 for a two-bedroom unit measuring between 80 square metres and 96 square metres.
Previously prices for two-bedroom, one-bathroom apartments started at $655,000.
The Richmond apartments will be new buildings on the historical site, given earlier offerings within the project were conversions of an older building.
The master-planned community will pay homage to its iconic industrial and broadcast past. The site is a former piano factory, then the Heinz canning factory, and then a broadcast studio.
Construction of the project is due to finish in late 2013 to early 2014.
Lend Lease was previously offering 10% annual returns on deposits paid for apartments.
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Meanwhile, Mike Quigley, boss of the federal government's National Broadband Network, has also sold his Mosman mansion recently at $3,555,000. It represented a loss on the $3.6 million paid in 2007.
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