New five-storey unit project for Manly approved for developer Tim Price
Backed by James Packer, developer Tim Price has secured approval for his five-storey apartment project where units will start from $2.5m.
Backed by James Packer, developer Tim Price has just won approval for a $100m apartment project in Sydney’s ever popular Manly with his company Time & Place to build 24 units that it hopes will fit with the peninsula’s laid-back coastal themes.
Several developers have of late targeted Manly since the pub-owning Laundy family took over the Manly Pacific Hotel and spent millions of dollars sprucing it up. Ever since, developers have rocked up with projects planned for Manly’s North Steyne including the six-unit Ondas and the seven-apartment Oceania.
The Time & Place group, which it says is best known for its high-end projects across Sydney and Melbourne, is taking an approach that will provide a mix of comfort and style, rather than overwhelming residents with luxury finishes.
“It’s not really about luxury,” Mr Price said.
His days working on Crown Melbourne – where he met Todd Nisbet, the former Crown Resorts executive who is now advising Mr Packer on his property investments – gave him a taste for beautiful materials and design.
Mr Packer is providing financial support to the five-level complex in Belgrave St that will have a mix of two and three-bedroom apartments.
“It will feature 21 premium two and three-bedroom residences, in addition to three penthouses offering expansive terraces and views of both the harbour and the ocean.”
The block is designed by SJB Architects. The bathrooms will feature stone and textured tiles as well as timber framing and tile formats. The project is expected to appeal to local downsizers and rightsizers. And the two-bedroom apartments will start from about $2.5m.
Time & Place director Evan Papadopoulos said the project would appeal to Manly’s long-time locals and that he was proud of the penthouses because they would introduce generous outdoor spaces that would offer unparalleled views.
“Future residents will appreciate the proximity to the beach and convenience to the ferry,” Mr Papadopoulos said.
Time & Place is yet to name the retailer who will lease the ground floor, nor would it divulge the penthouse prices.
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