Time & Place

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Developer Time &amp; Place and Woolworths are set to lodge plans for a mixed-use project in Melbourne's Glen Iris.

Time &amp; Place and Woolworths secured 173 Burke Road earlier this year for $29.25 million, and this week will submit plans to the City of Stonnington for a mixed-use community on the 4,306 sqm site which was bought as a two storey office building.

The plans by Carr Architecture will see 90 apartments located above a full-line, state-of-the-art Woolworths and adjoining BWS at street level. There will be one, two and three bedroom terrace-style apartments.

Each apartment will feature its own external entry, a hero of the project's design, which allows for dual aspect and improved daylight/crossflow ventilation, while also providing an energy efficient end-product.

The project will be targeting 4-Star Green Star Rating from the Green Building Council of Australia.

Time &amp; Place principal Edward Pearse says that the design that has been put forward does not look like a traditional apartment block.

<img alt="" height="1877" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/time_place_woolworths_2.jpg" width="2000">

"It takes cues from suburban living and Australian Modernism to improve this under-utilised portion of the Burke Road."

"The design considers careful integration of the residential and retail elements to ensure a quality living and shopping experience for all end-users.

“We’ve looked to bring the best of traditional terraced homes – from their sustainable design and down to the entry experience – to a higher density project.”

The site has been identified for regeneration as part of the Council’s strategic plan for Burke Road.

Subject to planning approval, the development would create around 250 jobs as well as 120 ongoing retail jobs once complete.

Woolworths State Development Manager Don Foulds said the development application delivers a clear vision to revitalise the site and deliver a thriving, contemporary and convenient mixed-use development.

“Our proposed designs aim to reflect the unique local character of Glen Iris while delivering on Stonnington Council’s vision for high quality housing and convenient shopping for the area.”

The full-line Woolworths will face Burke Road, with the Hope Street frontage to feature an open-air stairway leading to the residences, preserving amenity for neighbours.

<h2>Developments Nearby</h2>

<a href="https://www.urban.com.au/new-apartments/hurstmon-3-hurstmon-street-malvern-east">Hurstmon, Malvern East</a>

Address: Hurstmon - 3 Hurstmon Street, Malvern East

Just over one kilometre away down Wattletree Road in Malvern East is Hurmston, a low-rise apartment development near Malvern Road.

Developed by Landream and designed by Telha Clarke, the apartment building of 39 features one, two and three bedroom apartments starting from $449,000.

<img alt="" height="1123" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hurstmon.jpg" width="2000">

The front of the property features carefully curated landscaping that mirrors the surrounding area.

Ground floor residences feature landscaped courtyards that can extend a living space into an expansive entertaining area.

 

 

 
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Developer Time & Place and supermarket giant Woolworths are set to lodge plans for a mixed-use project in Melbourne's Glen Iris.

Joel Robinson

Developer Time & Place and Woolworths to lodge plans for mixed-use Glen Iris project 

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Developer Time &amp; Place has announced the sale of its East Melbourne landmark commercial project to ARA Australia in a structured deal worth approximately $330 million on completion. 
The partnership will see <a href="https://www.propertyobserver.com.au/timeplace.com.au/" target="_blank">Time &amp; Place</a> take responsibility for the development management and construction of the project, alongside joint venture partner Golden Age Group, with ARA to fund-through, manage and own the asset.
The deal is the latest in a string of fund-through arrangements in recent years as the commercial office market supply tightens while offering appealing capital returns for global investment managers.
Time &amp; Place commenced an expressions of interest campaign in conjunction with JLL in August 2019 which yielded significant interest from a range of local, off-shore and institutional groups.
Tim Price, Time &amp; Place founder and director, said the deal, which was finalised last week, reflected the current state of the commercial market and appetite from global investment funds.
“ There has been a significant trend outbound from the CBD by both tenants and institutional investors in recent years as lack of supply has shifted the focus to Melbourne’s CBD fringe.
“ This has presented an enormous opportunity for developers to capitalise on this scarcity by securing well-located sites and building premium-grade commercial assets literally on the CBD’s doorstep, that attract corporate-grade tenants and institutional long term owners.
“ We received an overwhelming response to the expression of interest campaign and are both pleased and proud to enter into partnership with a global powerhouse like ARA to fund and own the asset on completion” he said.
Commenting on the partnership, ARA Australia CEO and country head, Mr. David Blight said “we are delighted to be partnering with Time &amp; Place on this exciting project and look forward to commencing construction in the near future. ”The project is an outstanding ‘build- to-core’ opportunity. Together with our capital partner we look forward to funding the delivery and retaining the long-term ownership of this new, high-quality asset.
He said ARA Australia had been attracted to the project’s focus on sustainability and technology, the quality of the developer as well as its high-quality design by architects FJMT. He added that the project promised strong leasing fundamentals.
“While we’re a global business, our local team has an intimate understanding of the Australian markets – with low vacancy and limited quality stock coming on-line, 200 Victoria
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Parade represents a strong opportunity to secure a strategic foothold in a prestigious East Melbourne location,” said Mr Blight.
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The deal comes as Time &amp; Place has become increasingly active in the commercial and industrial sectors, having recently announced the MaxCap Industrial Opportunity Fund, and the acquisition of five prime industrial sites in Melbourne’s premium industrial areas with a sixth site under final due diligence in the sought-after Sydney market.
“ We are in an aggressive acquisition phase and actively seeking further commercial and industrial sites across the Melbourne fringe and outer growth regions, as we look to focus our attention on these sectors for the short to medium term,” Price said.
The 10-storey <a href="http://www.victoriaplace.com.au" target="_blank">200 Victoria Parade project</a> has been designed by renowned architectural studio FJMT. Comprising approximately 26,000 sqm of net lettable area, the project also includes world-class end-of-trip facilities, a sky terrace, expansive city views and a collection of retail, café and associated amenities.
Once completed, the office building will provide a focus on wellness, targeting a five-star Green Star office design, a 5.5-star NABERS (National Australian Built Environment Rating System) and Gold WELL rating by the International WELL Building Institute; including fitness and lifestyle amenities such as 160 bicycle spaces, 22 showers, 308 lockers and a bike repair station.
The deal will take immediate effect.
Leasing for the building is being managed by Colliers International. 
 
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j.ballantyne1990-6AQqhLzZaK

ARA Australia takes on deal worth $330 million from Time & Place

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Having secured a permit for a commercial development at 200 Victoria Parade, East Melbourne, joint venture partners <a href="https://www.urban.com.au/developers/time-place">Time &amp; Place</a> and <a href="https://www.urban.com.au/developers/golden-age-group">Golden Age Group</a> have launched the $280 million project as <a href="https://www.urban.com.au/projects/victoria-place-200-victoria-parade-east-melbourne">Victoria Place</a>.

Designed by <a href="https://www.urban.com.au/architects/fjmt">FJMT</a>, Victoria Place comprises approximately 26,000 sqm of net lettable area (NLA) and includes world-class end-of-trip facilities, a sky terrace, expansive city views and a collection of retail, café and associated amenities. The development team engaged FJMT for the project based on its expertise in delivering high-quality commercial developments such as 200 George Street and Liberty Place in Sydney.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/time_and_place_200victoriapde_balcony_render_sr.jpg" rel="gallery-all" title="Victoria Place has been designed with tenant well-being at the forefront. Image: Time &amp; Place"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/time_and_place_200victoriapde_balcony_render_sr.jpg?itok=APcOeKUx" title="Victoria Place has been designed with tenant well-being at the forefront. Image: Time &amp; Place" width="580"></a>

<figcaption>Victoria Place has been designed with tenant well-being at the forefront. Image: Time &amp; Place</figcaption></figure>Time &amp; Place Property was founded by experienced developer, Tim Price in early 2015 and has grown to now manage more than $3.5 billion worth of projects across the eastern seaboard. With Victoria Place, Time &amp; Place celebrates its 8th venture in property development, with more than 18 projects already under management.

Golden Age Group’s diverse development portfolio of residential and commercial has an estimated value of $4.2 billion with another $1.5 billion worth of projects in the pipeline. The developer is responsible for Melbourne CBD’s tallest residential building - <a href="https://www.urban.com.au/buildings/victoria-one-452-472-elizabeth-street-melbourne">Victoria One</a>, the world’s fourth slimmest building - the under construction <a href="https://www.urban.com.au/projects/collins-house-melbourne-466-collins-street-melbourne">Collins House</a>, and <a href="https://www.urban.com.au/projects/no-85-spring-street-85-spring-street-melbourne">85 Spring Street</a> - currently at sales.

Upon completion, Victoria Place will provide a focus on wellness, targeting a 5-star Green Star office design, a 4.5-star NABERS (National Australian Built Environment Rating System) and 4.5-star WELL™ rating by the International WELL Building Institute; including fitness and lifestyle amenities such as 160 bicycle spaces, 22 showers, 308 lockers and a bike repair station.

According to Golden Age Group, the CBD’s historic low commercial vacancy rates and tightening of lending to residential buyers had created a favourable environment for the developer to focus on expanding its commercial portfolio. Time &amp; Place expects Victoria Place to "(raise) the bar for workplace design in Melbourne", via leading sustainability and productivity amenities.

Colliers International are managing the sales and leasing campaign, noting the strength of the East Melbourne commercial market is on the rise. An Expression of Interest process has been launched with more information available at: http://www.victoriaplace.com.au/

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/time_and_place_200victoriapde_foyer_render_sr.jpg" rel="gallery-all" title="Victoria Place's expansive, light-filled lobby. Image: Time &amp; Place"><img alt="" class="image-article-full-width-580px" height="416" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/time_and_place_200victoriapde_foyer_render_sr.jpg?itok=mamdoRpo" title="Victoria Place's expansive, light-filled lobby. Image: Time &amp; Place" width="580"></a>

<figcaption>Victoria Place's expansive, light-filled lobby. Image: Time &amp; Place</figcaption></figure><h2>What they say...</h2>

<blockquote>
The building offers natural light on three sides across generous floor plates between 2,100sqm and 2,750sqm. The lift core and floor plate are designed to allow for customisation, modern activity-based workplace designs and inter-floor vertical communities.

The site is positioned at the entry post from East Melbourne to the CBD, with the picturesque Fitzroy Gardens and the vibrant northern suburbs at its doorstep. It also boasts prime connections to public transport with a tram stop at the front door and Parliament Train Station a short five-minute stroll away.

The building will also be in the unique position to offer extensive car parking in a three-level basement accessed from Lansdowne street frontage. With the CBD on one side, the best of Fitzroy’s food on the other and direct access to the city’s best parks and gardens and the MCG sporting precinct, this is arguably the best office location in the city.

- Tim Price, founder and director of Time &amp; Place
</blockquote>

 

<blockquote>
We are proud to be co-developing alongside long-time collaborators Time &amp; Place on this benchmark project for Melbourne workplace design. As a nimble developer, we can quickly change our approach based on the strongest asset class at the time. As the conditions become favourable in the commercial market, we have moved quickly to solidify our position.

- Jeff Xu, Golden Age Group founder and managing director
</blockquote>

 

<blockquote>
The tightening office availability in the CBD speaks for itself. Further, the number of enquiries we have received has almost tripled for East Melbourne when comparing June YTD 2018 data to June YTD 2017; and we’re seeing almost 10 times more interest in terms of the amount of space asked for, due to larger requirements in the market and a desire to be situated on the literal CBD fringe.

- Andrew Beasley, Colliers International
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Laurence Dragomir

Time & Place and Golden Age launch Victoria Place in East Melbourne

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Billbergia alongside Melbourne-based developer Golden Age Group have thrown forward separate development applications that stand to add 500 plus rooms to Sydney's hotel development pipeline.

The respective applications were both lodged earlier this month with North Sydney Council and City of Sydney and have a cumulative estimated cost just shy of $200 million. Both towers also intend to absorb and repurpose existing heritage buildings into their facade

The sustained surge in hotel developments across Sydney is seeing a flourish of hotel project proposals, although in Billbergia's case the hotel rooms share the proposed tower with commercial office space.

<h2>86-88 Walker Street, North Sydney</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image92_4.jpg" rel="gallery-all" title="Walker Street is in line for a new addition. Planning image: Fitzpatrick+Partners"><img alt="" class="image-article-full-width-580px" height="671" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image92_4.jpg?itok=amUeEhiD" title="Walker Street is in line for a new addition. Planning image: Fitzpatrick+Partners" width="580"></a>

<figcaption>Walker Street is in line for a new addition. Planning image: Fitzpatrick+Partners</figcaption></figure>Entertainment venue Firehouse Hotel is set to gain a hulking addition to its rear with Billbergia pushing to add the 123 metre tower above the historic building. This will be achieved bay way of a cantilevered support structure that enables the tower to maximise its footprint.

The tower's new podium addition will compliment the Firehouse Hotel in both scale and composition. Flexible work spaces an executive lounge and gym plus reception and a restaurant account for the podium space.

Thereafter the Fitzpatrick + Partners-designed tower is a mix of 224 hotel rooms across the lower portion of the tower, chased by approximately 4,500 square metres of office space at the peak of the building. The office space is situated across levels 24 to 31.

86-88 Walker Street sits next door to what will become one of North Sydney's commercial developments; in excess of 40,000 square metres of office space is being delivered by builder Laing O’Rourke for Dexus Property Group. The new 38 level tower has progressed to see its floorplate move beyond 20 levels.

<h2>47-53 Wentworth Avenue, Sydney </h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image93_6.jpg" rel="gallery-all" title="The time and the place for 47 Wentworth Avenue. Planning image: Bates Smart"><img alt="" class="image-article-full-width-580px" height="871" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image93_6.jpg?itok=DGmLkwe0" title="The time and the place for 47 Wentworth Avenue. Planning image: Bates Smart" width="580"></a>

<figcaption>The time and the place for 47 Wentworth Avenue. Planning image: Bates Smart</figcaption></figure>A further 287 hotel rooms are on the agenda within Sydney's CBD as Golden Age Group project partner Time &amp; Place heads a planning effort to push through with an adaptive heritage development of 47-53 Wentworth Avenue. All in all the new buildings is slated to span 19 levels with Bates Smart tasked with incorporating the dated facade into the development.

Bates Smart prevailed in an Competitive Design Competition held during 2016; the managed to surpass fellow design firms SJB, Tribe Studio and Koichi Takada Architecture by way of a design which is "capable of achieving Design Excellence as required by the City’s provisions."

In addition to the 287 guest rooms, a restaurant/cafe and bar are present at lower levels, with a rooftop bar and terrace crowning the building.

Lodged this month, the Bates Smart proposal includes revisions which sees residential apartments dropped in favour of increasing the size of the hotel. Consequently all parking within the development has been removed.

Fairfax has <a href="http://www.afr.com/real-estate/golden-age-buys-michael-teplitskys-surry-hills-site-for-a-350-million-hotel-20180611-h118ha">reported</a> that Golden Age Group intend to dub the project The Treehouse, with it being a joint effort between the developer and Starwood Capital.
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