Central Element get sign off for mixed-use Hyde Park tower in Sydney CBD
Sydney developer Central Element has been given the green light by the City of Sydney for their Hyde Park development at 271 Elizabeth Street.
The mixed-use project, being developed in collaboration with equity partner MaxCap and the current landowner, will be designed by the renowned architects Murcutt Candalepas.
The transformation of the Hyde Park site will include the development of 42 apartments, many of which will offer panoramic views of the park and over the Royal Botanic Gardens to Sydney Harbour. The project will also feature hospitality spaces and a range of amenities.
Behind the design, are long-time friends and colleagues Glenn Murcutt and Angelo Candalepas. This collaboration is the first time the awarded architects will work together on a project for the City of Sydney.
Angelo Candalepas is renowned for his multiple award-winning residential apartments such as Prince Street in Cronulla, Waterloo Street and Pelican Street in Surry Hills, and The Castle on Bathurst Street.
His firm was most recently awarded The Fox: NGV Contemporary, Australia’s largest gallery dedicated to contemporary art and design.
Glenn Murcutt is a highly awarded architect and the sole Australian recipient of the prestigious Pritzker Architecture Prize. His notable projects include Donaldson House in Palm Beach, Walsh House in Kangaroo Valley, and the Australian Islamic Centre in Victoria.
The architectural design of the project places a strong emphasis on framing the picturesque views nearby, including the enchanting avenues along Elizabeth and Castlereagh Street.
A mix of two, three and four-bedroom apartments will be on offer, including full-floor apartments with terraces. Residents will have access to a full floor of amenity.
Central Element Managing Director Nathan Chivas said the goal is to transform the site, which is currently the 16-level Hyde Park Inn Hotel, into a pivotal cornerstone of Sydney's future.
“With the utmost respect for the building's rich heritage and its enviable location in the heart of Hyde Park, this extraordinary undertaking will honour its legacy," Chivas said.
"Boasting unparalleled views of the park and the harbour, it will redefine CBD living for generations to come. Elizabeth Street stands as an emblem of Sydney's esteemed cultural and lifestyle hubs, and we are thrilled to have received the approved DA – a testament to the remarkable architects Glenn Murcutt and Angelo Candalepas.
"Together, our goal is to transform this site into a pivotal cornerstone of Sydney's future, and we are eager to share more about its captivating aesthetics and ambience in due course.”
The project is the second joint venture collaboration between Central Element and MaxCap Group, having jointly launched the Ethos development in Chatswood in 2022.
271 Elizabeth Street is set to launch to market early 2024.