Central Element snap up $17 million Greenwich apartment site
Fresh off the back of breaking the Coogee record for the most expensive piece of real estate in the beachside suburb, Sydney property developer Central Element (CE) has acquired its next development site.
They're heading to the Lower North Shore where they've paid $17 million for a site for a mixed-use seniors living project in Greenwich.
The design will revolve around the concept of community, pushing the boundaries of form to facilitate shared living experiences and the coming together of those who share a passion for embracing life to the fullest in their later years.
The 1,232 sqm site at 126 Pacific Highway, sits in an elevated position with uninterrupted views of the Sydney Harbour Bridge and CBD skyline. With three street frontages, the site presents an opportunity for a ground-floor retail offering.
Central Element is planning an eight-level building with car parking, two and three-bedroom apartments, extensive communal space including internal amenity and a rooftop bar with expansive harbour views.
CE will work very closely with the Lane Cove Council having collaborated with them previously on its Aston and Battique developments in the local area.
Nathan Chivas, Managing Director of Central Element, said they recognised the opportunity the Greenwich site presented for a world-class mixed-use seniors living development.
"Our intention is to create an environment for those over 60, that is hyper-focused on ageing well and enjoying their third phase of life," Chivas said.
"It’s conveniently located within a five-minute drive or a short walk of St Leonards Railway Station, Crows Nest Metro Station and Royal North Shore Hospital."
CE has previously delivered in the senior living sector. They've developed The Balmoral Collection in Mosman and Malton in Beecroft.
"We look forward to further redefining the seniors living category by catering to the ever-changing wants and needs of older Australians. With Greenwich, we will take a holistic approach to wellbeing, with a design and amenity that will promote daily movement, a shared community and purpose for its residents.”
CE will lodge the application in July, with construction commencing mid-2026.