This article is from the Australian Property Journal archive
DEVELOPER Central Element has unveiled plans for $250 million senior living lifestyle development after unlocking a 22-owner strata scheme on a Lower North Shore site next to an office building it had acquired earlier this year.
Central Element had picked up 126 Pacific Highway in Greenwich for $17 million in April and has now secured 130 Pacific Highway in a complex deal negotiated by Tom Appleby of Colliers.
The DA outlines the construction of two mixed-use buildings across the dual site, with 59 high-end residences, ground floor retail, extensive communal spaces and amenities, while the site’s elevated position means most apartments will boast impressive views of the Sydney Harbour Bridge and CBD skyline.
Residences have been designed by architects Marchese Partners with a focus on “connectivity, sustainability and wellness”. Cross-ventilated apartments will “ensure year-round comfort for residents”, with wellness and retail offerings integrated within the development. Residents will enjoy 1,000 sqm of landscaped communal areas.
The lobby will feature “dramatic” architectural feature colonnades. Amenities will include both indoor and rooftop pools, a gym, meeting spaces, group dining areas, library and more.
Marchese Partners brings more than 30 years’ expertise in the sector, and has been behind award-winning projects including Akoya North Sydney, Gaynes Park Manor and Mark Moran Vaucluse.
Central Element has a multi-billion dollar portfolio of developments across Sydney, with five projects set to complete next year.
“By combining these two sites, we hope to create a thriving community where downsizers can embrace a luxurious yet low-maintenance lifestyle, with every detail designed to enrich their everyday living experience,” Central Element’s managing director of Nathan Chivas, said of the Greenwich project.
“We are delighted to collaborate with Marchese Partners on this project. Their expertise and innovative approach align seamlessly with our dedication to creating luxury, lifestyle-focused developments tailored to modern retirees.”
CE has submitted the DA for Greenwich, with the project set to launch to market late 2025.
In March, Central Element lodged plans for an “ultra-premium” boutique residential project on its $51 million Bondi Beach site. The DA, lodged to Waverly Council, includes seven residences on the 2,050sqm site at 20-22 Sandridge Street and 21 Wilga Street, acquired in September 2023, with an estimated end value of $150 million.
