Central Element Files Midrise Scheme at Neutral Bay

Plans have been filed for an eight-storey building with a $51.9-million development cost at Neutral Bay by developer Central Element.

The plans for the 1659sq m site at 54-64 Barry Street are now before the North Sydney Council.

The site is about 5km north of the Sydney CBD and 150m from Military Road, and would yield 45 apartments with a floor space ratio of 2.86:1, as well as 62 parking spaces and 50 bicycle spaces in three basement levels. 

The site was acquired in an off-market transaction in 2025, along with 25-31 Bond Street at Mosman. An end value of around $300 million is estimated for the two projects.

Of the total gross floor area of 4743.9sq m, about 718sq m or 15 per cent would be dedicated to eight affordable housing units, to be managed by Bridge Housing. Typologies would include six one-bedroom, 24 two-bedroom (including the affordable units), and 15 three-bedroom apartments. Seven of the three-bedroom homes would be adaptable units.

Ground-floor and rooftop communal space would provide another 415sq m, and landscaped area another 510 square metres. The MHNDU-designed building would include landscaping on terraces on the fifth storey and the rooftop. 

Under the Low and Mid-Rise Housing and In-fill Affordable Housing schemes, height uplift to 28.6m would be allowed. Timber trestles designed to support vegetation would overrun height controls by 80cm, while the lift and rooftop plant would exceed the control by 2.7m, taking the building to 31.306 metres.

The application suggests that, without significant shading, view, heritage or other concerns, the proposal is in keeping with the character of the area.

▲ The proposal would fit the character of the area and is in line with nearby developments, according to the application.

In 2025, Central Element signalled a strategic focus on high-end apartments, with a conscientious approach to areas affected by and excluded from LMR zoning across Sydney. 

Elsewhere in North Sydney, Central Element is pushing ahead with a 20-storey, 140-apartment tower at 64-66 Lavender Street and 3-7 Middlemiss Street, Lavender Bay.

In October, the developer filed plans for an eight-storey, two-tower seniors living project at 126-134 Pacific Highway, at St Leonards. The $94.2-million scheme would yield 58 independent living units. 

Housing development activity has ramped up across the North Sydney area as a result of the NSW government’s planning reforms, with the Woolworths-led shoptop development at 1-7 Rangers Road and 50 Yeo Street among others to seek State Significant Development or alternative pathways over the objections of the council.