First look: Central Element unveils second Neutral Bay apartment project

Fresh off completing Pienza Neutral Bay, developer Central Element(CE) is preparing its next move in the tightly held Lower North Shore suburb.

Central Element (CE) has lodged plans for an eight-storey apartment building at 54–64 Barry Street, a 1,659 sqm site just south of Military Road and the Neutral Bay town centre. The site was strategically acquired last year following the introduction of the NSW Low and Mid-Rise Housing Reforms and is positioned on a quiet, tree-lined street within walking distance of Neutral Bay village, the Neutral Bay Club, and key public transport links.

The $52 million development will involve the demolition of four detached homes across four lots to deliver 45 apartments, including eight affordable housing units to be managed by Bridge Housing. The mix will comprise six one-bedroom apartments, 24 two-beds, and 15 three-beds. The apartments will sit above three basement levels with 62 car parking spaces and 50 bicycle spaces.

Designed by acclaimed architectural firm MHNDU, the building features a lower four-storey podium element that responds to the surrounding streetscape, with upper levels recessed to reduce perceived bulk. The façade introduces warm travertine stone cladding and bronze-toned metal detailing, complemented by generous window openings and landscaped terraces to add depth, texture, and privacy.

Communal open space is proposed both at ground level and on the rooftop. Five ground-level apartments will include private landscaped gardens, while the rooftop terrace is designed as a shared amenity with an outdoor kitchen, barbecue facilities, swimming pool, and dining areas, offering elevated views across Sydney Harbour and the surrounding district.

“The building has been designed with a lower four-storey element and with building materials commensurate with the character of the area,” Beam Planning noted in its submission to North Sydney Council.

Bridge Housing will manage the affordable units for a period of 15 years, as required under the Housing SEPP’s incentive provisions, with 15 per cent of the project’s floor area allocated to affordable housing to support greater housing diversity in the local area.

MHNDU’s design report further highlights the site’s strategic location, approximately 250 metres from key bus stops and around 1.3 kilometres from North Sydney CBD, positioning it as a transit-accessible housing opportunity aligned with evolving density controls. The planning justification emphasises the proposal’s compatibility with the emerging local character and scale of Neutral Bay.

Central Element continues to build out a diversified Sydney apartment pipeline. The developer recently completed Pienza Neutral Bay, a 37-apartment project located approximately 500 metres from the Barry Street site, and is currently delivering Ethos Chatswood, Ballamac House in Coogee, and Bianca in Drummoyne. Future projects are also planned for Mosman, Bondi Beach, Greenwich, Lavender Bay, and a high-density scheme on the edge of Hyde Park.

Central Element has flagged the Barry Street project for a market launch in Q1 2027.