Developer Time & Place acquire coveted $29m Southbank site for new multi residential development

Property developer, Time and Place, have recently purchased an off-market 940sqm landholding from vendor New Sky Group for an estimated $29 million. 

Time and Place is collaborating with Callum Fraser (Elenberg Fraser Architects) on design iterations for the project’s previous planning permit which was submitted in 2014. 

The residential collection will meet the rising demand for urban housing, offering security, comfort and a sound investment, accommodating dynamic, modern lifestyles. 

Located in the Crown precinct, the 84-90 Queensbridge Street development will focus on activating the public space, with a strong focus on sustainability and design. Residences will offer 128 one bedroom apartments, and a mix of two and three bedroom options within the 62-level high-rise. The building management will also provide services such as running errands, cleaning, linen supply, dog walking and car washing. 

The suburb of Southbank is also set to undergo a dramatic transformation over the next few years due to the City of Melbourne’s $38m City Road Masterplan Project. 

Time and Place Director, Tim Price, explains that the site presents an exciting opportunity to deliver a project unlike others seen in Melbourne before. 

“Southbank has become renowned for glass towers, this won’t be another one of those. We’re looking to deliver something edgy, with a New York feel, and activate a space that the public will want to engage with. 

We’re pulling together a team of market leaders who share our values to create a project with a strong legacy that will have a lasting impact on Southbank and help its transition into one of Australia’s most livable suburbs.”

Sales for this development should start in the first quarter of 2021, and apartments are predicted to sell at an average rate of $11K to $12K per square metre.