Billionaire former casino mogul James Packer has backed developer Time & Place’s $110 million acquisition of a historical warehouse site in Sydney’s Surry Hills that it plans to transform into half a billion dollars’ worth of luxury apartments.
Marlborough House, the former David Jones warehouse at 47-97 Marlborough Street, was acquired by Time & Place in partnership with investment firm NPACT, founded and led by former Crown Resorts executive director Todd Nisbet.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
