- After much negotiation, PB & Co. secure permit to transform a historic East Melbourne home
- $35 million project will see luxury residential offerings
- Set to launch early 2022, with construction to commence shortly after
A historic East Melbourne home will transform into a luxury residential offering after developer PB & Co. achieved a permit.
After much negotiation with the City of Melbourne Council and local objectors, the developer recently announced all stakeholders are satisfied.
Once owned by the publican of the Young and Jackson hotel, the 19th century Italianate style terrace home sits on the corner of Flinders and Swanston streets opposite Flinders Street Station.
Designed by James Gall, the house is “one of Melbourne’s oldest, most important and successful 19th century hotels,” according to Victorian heritage archives.”
The $35 million boutique project will feature five full floor residences designed by award-winning Bayley Ward architects.
CEO and co-founder of PB & Co. Alex Bragilevsky said, “being able to restore this spectacular building to its former glory, and to then deliver a world class ‘ultra-luxe’ development to Melbourne’s elite is gratifying and in line with PB & Co.’s vision.”
PB & Co. said the ground floor will be housed within the existing structure where period features including grand double-height spaces and original tilting will be brought back to life, with four new residences mirroring the same sense of grandeur and space added above.
Each residence will have three bedrooms, multiple living areas, winter gardens and study retreats, along with self-parking, a fully-automated car system, as well as options to combine floor plans vertically to create duplex-style living.
The 315sqm penthouse will feature views over Fitzroy Gardens and the Melbourne skyline, a private rooftop terrace, and infinity pool.
The developer’s early estimate of the residence suggests more than $10 million.
The project is set to launch in early 2022, with construction commencing soon after.
In February 2021, it was reported some East Melbourne residents were opposing the new development.
The National Trust of Australia’s Victoria director of advocacy Felicity Watson said to a news outlet, “East Melbourne is well known to have a very high number of significant 19th century buildings, and a number of very intact streetscapes and generally, we don’t want to see the erosion of that character of East Melbourne.”