This article is from the Australian Property Journal archive
SYDNEY developer Central Element and joint venture partner Develotek have been given the go ahead to launch their first project in the city’s inner west.
With a development application approval in place, Central Element (CE) and Develotek are set to launch the 12-residence project, Bianca, at 2C-2D Wolseley Street in Drummoyne.
The waterfront three- and four-bedroom homes, ranging from 120sqm to 290sqm, will be located in an elevated position on the Northern edge of Drummoyne’s peninsula. With a penthouse to be launched at a later date.
The project will comprise two components, the first placed along Wolseley Street with views of the harbour and the city skyline and the second along the foreshore, connecting to the harbour’s edge.
“This project will further elevate CE’s position as a key player in delivering this level of product to Sydney. This rare opportunity reflects our vision of seeking out exceptional sites in premium suburbs to build luxurious living spaces of the highest quality,” said Nathan Chivas, managing director at Central Element.
“Our position as force in the luxury residential market was further bolstered with the DA approval on the world-class mixed-use landmark Hyde Park site earlier in the month.”
This after last month, Central Element, equity partner MaxCap Group and the landowner of 271 Elizabeth Street got approval from the City of Sydney for the transformation of the former Hyde Park Inn site.
Premium amenities will include direct lift access from the carpark with double garages and storage rooms for each address, expansive outdoor entertaining areas and individual wine cellars.
With an outdoor area set on a 35-metre water frontage, featuring large gardens, open lawns by the water, outdoor swimming pool, and access to the water by foot or by boat.
Architecture and design firm SJB will design the project, after working with Central Element on projects including Pienza, Neutral Bay and Ethos, Chatswood.
“We are thrilled to be working on yet another remarkable project with CE. With Bianca we endeavour to create a home completely connected to its location. The architecture is in response to the site’s unique topography, with individual rooms and openings adjusted to ensure that views and privacy are maximised,” said Adam Haddow, principal at SJB.
“Each home features spaces that immerse you in the incredible location, with generous open plan living and dining areas flowing out to oversized balconies allowing residents to see the water, feel the breeze, soak in the sun, and enjoy waterfront living at its finest.”
Bianca is open for expressions of interest ahead of the sales release, with McGrath agents Tracey Dixon and Rob Alfeldi appointed to manage sales.
“With the approval of Bianca and its subsequent launch, Wolseley Street will witness the first and potentially the last major development in a generation,” said John Fernandes, director at Develotek.
“Pressing ahead with Bianca in conjunction with CE is the first milestone of a conscious effort and push by Develotek to enter the high-end Inner West market which we see as chronically undersupplied, and we look forward to delivering a new benchmark to Drummoyne over the coming years.”
Construction on Biana is expected to commence in early-2024.
