Developer Time and Place has won approval for a $230-million office building in Sydney’s burgeoning Alexandria.
The John Wardle-designed project is planned for a site at 23-27 Bourke Road and 41-43 Bowden Road, Alexandria—4km south of the CBD.
The 8089sq m site was bought in March 2021 for $52.5 million and amended plans for the site filed with the City of Sydney Council in August of that year.
The project will comprise a campus-style office precinct with 16,000sq m of office space and 1500sq m of retail space. With no tenants yet on the books, the Qualitas-backed project will begin construction speculatively.
Colliers has been appointed to run the leasing of the site with marketing commencing in the second quarter of 2022 and the building is expected to come online in 2023.
It will include a wellness centre, end-of-trip facilities, co-working spaces and meeting rooms with buildings centered around a large public courtyard.
As part of the approval, a laneway will be created at the rear of the property and returned to the City of Sydney Council.
The laneway will also allow future development of other amenities such as retail, end-of-trip facilities, or sauna and steam room for tenants.
Time and Place has indicated it will work with real estate financier Qualitas and construction specialist and developer Hickory on the project.
Time and Place recently completed the first Ace Hotel in Sydney as well as the Harrington Collection at The Rocks.
Time and Place NSW director Evan Papadopoulos said the location made sense for the developer’s next project.
"We are passionate about the evolution of the South Sydney office precinct. We think Alexandria is the most exciting part of this market,” Papadopoulos said.
“Expanding into Alexandria has long been on our radar, and this site presented exactly the opportunity we were looking for.”
Since it was established in 2015, Time and Place has been involved in 23 projects totalling approximately $4.1 billion.
It recently bought the iconic 59-room Hotel Lindrum in Melbourne for $50 million from Robert Magid, who the former billards rooms into a hotel.
Accor Hotels continues to run the hotel component of the property but Time and Place has not ruled out adding in an office component to the site.
