Fiona Killman, Real Estate Reporter
Updated 20 Jul 2023, 3:48pm
First published 20 Jul 2023, 2:51pm
The old Hyde Park Inn is being transformed into a “luxury” residential complex
The Hyde Park Inn is set to be given a luxurious new lease on life.
The City of Sydney has given the final tick of approval for the redevelopment of the Inn at 271 Elizabeth St.
Sydney property developer Central Element has teamed up with MaxCap Group to transform the site into 42 “luxury living” residences with panoramic views of the park and over the Royal Botanic Gardens along with hospitality areas and amenities.
The site will be designed by renowned architects Murcutt Candalepas and have two, three and four-bedroom apartments including full-floor residences with terraces which will launch to the market in 2024.
Artists impression of the redevelopment.
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Central Element, owned by industry experts Shane Smollen and Wayne and Nathan Chivas, bought the iconic site in 2020 from NSW RSL and have hinted to an “exciting yet discreet hospitality component that will establish it as a sought-after destination”.
Central Element managing director Nathan Chivas said it would honour the legacy of the site.
“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,” he said.
“Boasting unparalleled views of the park and the harbour, it will redefine CBD living for generations to come.
The development will include 42 “luxury” residences.
“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.
“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.”
Behind the design are long-time friends, colleagues and award-winning architects Glenn Murcutt and Angelo Candalepas who are collaborating for the first time on a City of Sydney project.
It has been designed by renowned architects Murcutt Candalepas.
Central Element are also behind the Ethos development, Chatswood.
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Candalepas is renowned for his Sulman Medal-winning projects All Saints Grammar School, Belmore, and Punchbowl Mosque along with the recently completed MGallery Accor Hotel and The Castle development on Bathurst St.
Glenn Murcutt is the sole Australian recipient of the prestigious Pritzker Architecture Prize, known for his work on the Arthur and Yvonne Boyd Education Centre and Donaldson House in Palm Beach.
The Elizabeth St project design will include grey granite cladding to “create a sense of unity and a sculpted presence”. On completion, it will be worth around $450m.
Central Element has delivered more than 500 apartments across Sydney, with this project marking the second joint venture for the developer and MaxCap Group after the launch of the Ethos development in Chatswood in 2022.
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