The site comprises nearly a whole city block of 15,200 square metres opposite the newly-redeveloped Spencer Street railway station, and is ear-marked for a mixed-use redevelopment.

The Age has leased back all of the buildings on the property for three years to show the joint venturers a return of 6.5% per annum while planning the redevelopment. “The Age” had previously proposed a major new office building and up to 1,000 apartments on the site, before deciding to relocate to the Docklands precinct.