Following the launch of the highly successful Ethos development in Chatswood in 2022, prominent Sydney property developer Central Element and equity partner MaxCap Group will continue their joint venture collaboration with the proposed luxury residential development at 271 Elizabeth Street, Sydney.

Central Element and MaxCap Group, in association with the current landowner, have been granted development application (DA) approval by the City of Sydney for the transformation of the mixed-use site located adjacent to Sydney’s Hyde Park.

To be designed by renowned architects, Murcutt Candalepas, the project will include the creation of 42 residential apartments, many of which will offer panoramic views of the park and over the Royal Botanic Gardens to Sydney Harbour. Additionally, the development will feature exclusive hospitality spaces and a range of lifestyle-enhancing amenities.

Also, for the first time, long-time friends, colleagues and awarded architects Glenn Murcutt and Angelo Candalepas will collaborate on a project for the City of Sydney.

Angelo Candalepas is renowned for his Sulman Medal-winning projects All Saints Grammar School, Belmore, and Punchbowl Mosque; multiple award-winning residential apartments such as Prince Street, Cronulla; Waterloo Street and Pelican Street, Surry Hills; President Avenue, Sutherland; North Rocks and the recently completed M Gallery Accor Hotel as well as ‘The Castle’ development on Bathurst Street.

Glenn Murcutt is a highly awarded architect and the sole Australian recipient of the prestigious Pritzker Architecture Prize. His notable projects include the Arthur and Yvonne Boyd Education Centre, in collaboration with Wendy Lewin and Reg Lark; Donaldson House, Palm Beach; Walsh House, Kangaroo Valley; and the Australian Islamic Centre, Victoria.

271 Elizabeth Street

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. The materiality will include a beautiful warm grey granite cladding to create a sense of unity and a sculpted presence.

Comprising 42 opulent two, three and four-bedroom residences, which include expansive full-floor residences with terraces, the development will deliver a luxurious living experience. An entire floor is dedicated to bespoke residential amenities and services, ensuring a truly exceptional and personalised lifestyle for residents.

Central Element has a multi-billion-dollar portfolio of residential and lifestyle precincts, and has delivered over 500 apartments across Sydney metropolitan locations.

“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,” says Central Element managing director Nathan Chivas.

“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.”

271 Elizabeth Street is set to launch to market early 2024.