This article is from the Australian Property Journal archive
DEVELOPER Time & Place has acquired the historic Marlborough House in Surry Hills for a whopping $110 million.
The company has teamed up with billionaire James Packer’s NPACT, to buy the former David Jones Warehouse building and its adjacent sites at 47-97 Marlborough Street, marking the first time in more than 50 years that the properties have changed hands.
The joint venture partners are proposing to redevelop Marlborough House into a 150 residential apartments project including 26 affordable dwellings, contributing to the growing need for diverse housing in the area.
They plan to lodge the application through the NSW Government’s State Significant Development (SSD) pathway.
Tim Price, founder and director of Time & Place, said this acquisition aligns perfectly with the company’s strategic expansion in New South Wales.
“We are privileged to be the custodians of such a significant building in the heart of Surry Hills,” said Price. “The area’s cosmopolitan energy, with its renowned cafés, bars, and nightlife, offers the perfect backdrop for transforming Marlborough House into a modern residential precinct that honours its history while embracing a contemporary design vision.”
This acquisition marks another milestone in Time & Place’s growing development pipeline, which includes high-profile residential projects such as Victoria Hill in Camberwell and The Queensbridge Building.
In October Time & Place in partnership with supermarket giant Woolworths secured approval for a $150 million mixed-use development in Glen Iris.
