Central Element has topped out Ballamac House at Coogee just six months into construction of its already record-breaking $130-million development.
The 241sq m penthouse at 39 Arcadia Street sold off the plan in April last year for $20 million, setting a price record for the suburb.
The development comprises eight three-bedroom homes—two within the restored 1860s Ballamac estate and six in a new four-storey building designed by Tonkin Zulaikha Greer.
Construction is being delivered by Central Element’s in-house team, CE Build, led by head of construction Hayden Callaghan.
The group introduced the construction arm in 2023 as part of a broader move towards integrated project delivery.
Ballamac House occupies a 7000sq m headland site at North Coogee.
The original Victorian home, once used as a private hospital, had been privately held for decades before Central Element acquired it in 2022.
Interiors were designed by Mim Design, and landscaping by Jane Irwin Landscape Architecture.
Each apartment includes three bedrooms. Internal areas range from 165sq m to 241 square metres.
The two buildings are connected via a shared basement and landscaped common areas but retain separate entries and architectural identities.
Topping out was marked onsite last week. With structural works now complete, fitout is under way.
The project was approved via the Land and Environment Court in late 2023.
The heritage significance of the site and the design response were key to the approval.
The restoration retains the original sandstone facade, ironwork and wraparound veranda, while the new building was designed to sit discreetly behind the heritage home.
The project had previously drawn opposition from residents concerned about its scale and visual impact on the coastal site.
Ballamac was the first of three premium residential products that Central Element would deliver to Sydney’s East, along with Sandridge Street and Lamrock Avenue projects, managing director Nathan Chivas said.
The development is also one of five completions planned for 2025 across Central Element’s wider Sydney portfolio, alongside the 25hours Hotel at The Olympia Theatre, Paddington; Pienza Neutral Bay; Bianca Drummoyne and Ethos Chatswood.
The group is also progressing new developments at Bondi Beach and a mixed-use seniors living project at Greenwich.
Completion of Ballamac House is expected by December this year.
