This article is from the Australian Property Journal archive
SYDNEY property developer Central Element, equity partner MaxCap Group and the landowner of 271 Elizabeth Street have obtained approval from the City of Sydney for the transformation of the former Hyde Park Inn site into a residential project with panoramic views over the Royal Botanic Gardens and to Sydney Harbour.
The project will have 42 two, three and four-bedroom residences – 11 fewer than the amount initially proposed – which include expansive full-floor residences with terraces, and the development will also feature exclusive hospitality spaces and a floor dedicated to amenities and services.
This marks the second joint venture collaboration between Central Element and MaxCap Group, with construction recently beginning on their Ethos development in Chatswood.
Architects Murcutt Candalepas have drawn up the plans. Behind the design are long-time friends and colleagues Glenn Murcutt and Angelo Candalepas, in the first time the architects will work together on a project for the City of Sydney.
Candalepas is renowned for projects including the All Saints Grammar School in Belmore, and Punchbowl Mosque, residential apartments such as Prince Street in Cronulla, Waterloo Street and Pelican Street in Surry Hills, President Avenue in Sutherland, North Rocks and the recently completed M Gallery Accor Hotel + “The Castle” development on Bathurst Street.
Murcutt is the sole Australian recipient of the prestigious Pritzker Architecture Prize. His notable projects include Arthur and Yvonne Boyd Education Centre, in collaboration with Wendy Lewin and Reg Lark; Donaldson House, Palm Beach, Walsh House, Kangaroo Valley, and the Australian Islamic Centre in Victoria.
The design will utilise a warm grey granite cladding to “create a sense of unity and a sculpted presence”, they said.
The 271 Elizabeth Street project places a strong emphasis on framing the picturesque views nearby, including the avenues along Elizabeth and Castlereagh Street.
Central Element’s managing director, Nathan Chivas said, “With the utmost respect for the building’s rich heritage and its enviable location in the heart of Hyde Park, this extraordinary undertaking will honour its legacy.
“Elizabeth Street stands as an emblem of Sydney’s esteemed cultural and lifestyle hubs, and we are thrilled to have received the approved DA – a testament to the remarkable architects Glenn Murcutt and Angelo Candalepas. Together, our goal is to transform this site into a pivotal cornerstone of Sydney’s future, and we are eager to share more about its captivating aesthetics and ambience in due course.”
271 Elizabeth Street is set to launch to market in early 2024.
