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Central Element secures major retailer for Pienza Neutral Bay


Leading independent Sydney property developer Central Element (CE) has signed on Dan Murphy’s to its $180 million luxury residential and retail development, Pienza Neutral Bay. Pienza will create a space for both the community and residents to enjoy, with Dan Murphy’s occupying one of the five retail spaces, conditional on Council and Liquor Licence approvals, with the latest version of their 2.0 Vintage store.

Dan Murphy’s 2.0 Vintage is the company’s top tier store format. Like the Double Bay store, this store will combine the features of a typical Dan Murphy’s with its extensive range and lowest liquor price guarantee, while dialling up the customer experience and opportunity to discover new and exciting products. The store will have a unique range of local and international products suited to the Neutral Bay locale and boast a wine merchant to support customers in finding the perfect wine for their occasion.

Pienza is the first significant project in a multi-stage urban planning strategy for Neutral Bay, supporting the local council’s vision and future growth plans for the area. Improvements to the public areas include widening the surrounding pathways to welcome pedestrian traffic, retaining a row of mature native trees and the addition of landscaping and public artwork to add even more greenery and life to the precinct. The impressive architecture and revitalised streetscape will bring sophistication, style, and vitality to the village, while adding further value to the burgeoning Neutral Bay town centre.

Located at 12-14 Waters Road on the North Eastern corner of the village, the premium mixed-use development features five retail spaces over 2,000 square-metres of architecturally designed prime ground floor and below ground space. This is alongside a boutique collection of 37 generously proportioned north-facing luxury apartments with communal rooftop leisure space, landscaped gardens, pool and yoga deck.

Boasting 50 meters of prime north frontage, Pienza has been intentionally designed to connect with the surrounding village, through the pedestrianisation of Water’s Lane and its retail offering that will bring a diversity of new merchants and restaurateurs. As part of CE’s holistic approach to placemaking, each retailer will be handpicked to complement Neutral Bay’s existing offering as well as the reimagined public domain.

Sales for Pienza have been strong since launching to market last year – achieving record-breaking prices for Neutral Bay, including a $7 million three-bedroom sale. One-bedroom apartments are sold out, with two-bedrooms fetching over $3 million, and three-bedrooms priced from $4.2 to $7 million.

“Our vision for Pienza goes beyond the home. Located in the village heart of Neutral Bay, this emerging destination will feature world-class retail and dining options seamlessly integrated into the fine grain of the neighbourhood, while reorienting the village as Neutral Bay's true town centre.” Said Nathan Chivas, Managing Director, Central Element.

Further new retail options to compliment the dynamic foodie and social hub of the Neutral Bay neighbourhood will be announced in the coming months.

Expressions of interest in the last two retail spaces at Pienza Neutral Bay, should be directed to leasing agent Matt Hudson of Hudson Capital.

Pienza is scheduled for completion in Mid-2024.

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