Central Element add another level to Pienza, Neutral Bay apartment development
Luxury developer Central Element has secured approval to add a sixth level to Pienza, its luxury residential and retail project in Neutral Bay.
The North Sydney Council has just given the go ahead to add another floor, two years after the original proposal for five levels was approved.
The sixth level addition will mean a further Byron Bay will become available for the in-demand development. They are are set to be released next year.
Located at 12-14 Waters Road on the North Eastern corner of Neutral Bay village, the mixed-use development will now feature 37 north-facing luxury apartments with communal rooftop leisure space, landscaped gardens, pool and yoga deck. They will sit above five premium retail spaces located on the ground floor and below ground.
As part of CE’s holistic approach to placemaking, the development will include impactful improvements to the public areas on the ground floor of the precinct and each retail tenant will be handpicked to compliment the dynamic foodie and social hub, appealing to both locals and residents, and further reorienting the burgeoning village as Neutral Bay’s true town centre.
Sales for Pienza have been strong since launching to market last year – achieving record-breaking prices for Neutral Bay, including a $7 million three-bedroom sale.
One-bedroom apartments are sold out, with two-bedrooms fetching over $3 million, and three-bedrooms priced from $4.2 million to $7 million.
It is expected this new release will continue to achieve record sales figures for the area.
Central Element has been busy in recent months, first securing approval for their redevelopment of Coogee's 1860s Ballamac House before acquiring a prime site in Bondi Beach where they are planning ultra-premium apartments and houses which are expected to start from $20 million.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
