PROPERTY developer Central Element has broken ground on its $180 million residential and retail development, Pienza Neutral Bay.
With the demolition works now complete, Richard Crookes Constructions are leading the build of the SJB-designed mixed-use development, at 12-14 Waters Road on Sydney’s Lower North Shore in the Neutral Bay Village.
“Today we mark the next stage in the development of Pienza with the commencement of the building phase of what will offer truly exceptional living space and lifestyle amenity. Every project that we work on is driven by a desire to create magnificent and memorable developments in enviable locations,” said Nathan Chivas, managing director at Central Element.
“We collaborate with Australia’s finest architects and builders to create homes that will shape the future of Australian living.”
The development features a boutique collection of 37 luxury apartments with a communal rooftop leisure space, landscaped gardens, a pool and yoga deck, in addition to around 2,000sqm of premium commercial and retail space.
“The rooftop is about investing in people’s lifestyle ambitions. It’s like an urban resort, playing on the idea that you don’t need to go on holiday to have a good time. It gives residents something that we’d all love — being close to the sun, enjoying the pool, and looking at across the view — as a daily experience of life,” said Adam Haddow, director of architecture at SJB.
Sales at Pienza commence last year, having achieved record prices for Neutral Bay, including the sale of a three-bedroom residence for $7 million. So far buyers at Pienza have been largely owner occupiers and downsizers.
Currently, all one-bedroom apartments are sold out, with remaining two-bedroom priced from $2.1 million and three-bedrooms from $4.7 million.
“Our vision for Pienza goes beyond the home. Located in the village heart of Neutral Bay, this emerging destination will feature world-class retail and dining options seamlessly integrated into the fine grain of the neighbourhood, while reorienting the village as Neutral Bay’s true town centre,” concluded Chivas.
Pienza Neutral Bay is scheduled for completion in Q2 2024.
