This area of Surry Hills, ounded by Riley, Campbell, Commonwealth and Goulburn Streets, had previously been the subject of a massive slum clearance program by Sydney City Council.
With the housing removed, the area was designated light industrial, but very little interest was shown in moving there. The blossoming film industry, marked by the creation of many new cinemas, required fire-proof storage and distribution of celluloid film, which by then was considered an industrial use and risk. Being the closest industrial site to the CBD, two film companies moved there inspiring the erection of the nearby Hollywood Hotel.
Twentieth Century Fox had their New South Wales office on the ground floor and their
Australian office on the first floor. Other features include fire proof vaults, and a small theatrette where cinema owners could preview films.

Taken from:Sydney architecture / Jahn, Graham. Published 1997.