DEVELOPER PB & Co. has been received a permit to develop a historic home in East Melbourne into $35 million luxury ultra-high end full floor residences.
Located at 140-142 Jolimont Road, Eblana, is an 1883-built Italianate-style terrace house, that was the historic home of Young & Jackson publican Thomas Jackson.
“The core origins and fabric of Eblana speak to Melbourne’s grand era in the Late 1800s, which is complemented by rich history and exquisite colonial architecture of James Gall,” said Alex Bragilevsky, CEO and co-founder of PB & Co.
The Bayley Ward designed development will retain the original structure, with the period architectural features such as the double-height spaces and original tiling to be restored.
“Being able to restore this spectacular building to its former glory, and to then to deliver a world class ‘ultra-Luxe’ development to Melbourne’s elite is gratifying and in Line with PB & Co.’s vision,” added Bragilevsky.
The ground floor residence will be established in the original building, while the remaining four residences will be built above following the heritage façade’s proportions and emphasising the arched window structure.
The residences will be accessible via a private lift with entrance from Jolimont Lane and will be comprised of three-bedrooms, multiple living areas, winter gardens, studies and fully-automated car systems.
Potential buyers will also be given the option to combine floorplans vertically, for duplex-style living.
The penthouse residence is anticipated by the developers to bring in offers in excess of $10 million, with the 315sqm set to feature a private rooftop terrace with 360 degree views of Melbourne and a 10 metre infinity pool.
“We have consulted closely with the East Melbourne Group, Melbourne City Council and key objector groups to reach a commercial outcome, and appreciate the constructive nature of these discussions,” said Bragilevsky.
The project will add $35 million to PB & Co.’s $350 million portfolio across Melbourne and Sydney.