Sydney boutique developer Central Element has teamed up with Develotek to debut in Sydney’s inner-west with a 12-apartment project on the water at Drummoyne, the first boutique apartment development in more than a decade.
Central Element and Develotek filed plans for the development with the City of Canada Bay Council mid-2022 and are hoping to break ground early next year, subject to council approval.
The SJB-designed Bianca residences are due to test the waters of the inner-west’s market when launched later this year with prices ranging from $3 million to $10 million.
The 12-apartment tower will stand proud on the waterfront site at 2C- 2D Wolseley Street at Drummoyne, which Central Element managing director Nathan Chivas said expanded the developer’s footprint in Sydney.
“The Drummoyne site will mark the company's first project in the Inner West, an area known for its unique location on the peninsula surrounded by water on three sides, and only 6km away from the Sydney CBD,” Chivas said.
“This strategic move aligns with the company's vision of seeking out exceptional sites in premium suburbs to build luxurious living spaces of the highest quality.”
Central Element has engaged SJB again to design their project, following the success of Ethos Chatswood and Pienza at Neutral Bay.
“We are delighted to be working with Develotek, and our trusted creative team at SJB on the design and interiors for this truly exclusive new project in Sydney’s inner west,” Chivas said.
The 12-apartment development comprises a mix of three and four-bedroom typologies, with many featuring expansive water views to the Sydney city skyline. The project also comprises communal gardens that provide direct access to the water, and an outdoor swimming pool.
Develotek director John Fernandes said the developer and investment group would bring its expertise in apartment living to the project alongside Central Element. Fernandes said the projet would offer a “lavish living experience”.
“We are extremely excited to deliver this rare project with Central Element, the first in decades to be released on Drummoyne Bay,” Fernandes said.
“This exceptional project will offer a unique combination of direct North-facing waterfront living and a breath-taking aspect to the city and the Drummoyne Peninsula.
“The seamless fusion of these features not only promises a lavish living experience but will also provide a range of health benefits associated with waterfront living and natural sunlight exposure.”
