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Posted on 31 July 2021

A local private developer has splashed out nearly $17 million on Peregrine Projects’ 175 Burnley Street office site.

The 1985 square metre site north of Bridge Road comes with a permit for a 10,000 sq m nine-storey office project designed by Jackson Clements Burrows Architects.

Peregrine’s Joseph Chahin paid $10.75 million for the existing office-warehouse in 2018 and has ridden a wave of interest in the North Richmond market.

The deal was handled by Vinci Carbone agents Joseph Carbone and Frank Vinci and Colliers’ Peter Bremner, Ben Baines, Ted Dwyer and Rachael Clohesy.

Mr Chahin said he had received several offers for the property before going to market.

Around the corner at 393 Bridge Road, on the corner of Coppin Street, the car yard occupied by Thrifty car rental has sold for around $8 million.

Records show developer Guru Kahlon slapped a caveat on the property in mid-July.

The 752 sq m site has 70 metres of site frontage.

JLL agents Josh Rutman, Tim Carr, MingXuan Li and Stuart Taylor negotiated the transaction.