By ANNA USHER

Neighbouring multi-million-dollar homes are set to be bulldozed, along with two adjacent blocks of flats, to make way for an eight-storey, $51.6 million apartment tower in Neutral Bay.

The residences on the corner of Lindsay and Barry streets would be knocked down and merged into a single 2,087-square-metre super site under plans submitted to North Sydney Council.

Developer Vatera Pty Ltd has lodged plans for 37 apartments across eight storeys, rising 26.4 metres.

That is more than three times the council’s 8.5-metre height limit for the street, on land where new apartment blocks are prohibited.

New state housing laws make it possible.

It is the latest of several apartment towers proposed for Neutral Bay under the new rules.

If approved, 10 homes will be demolished; the two houses on Barry Street and eight flats across the two older blocks on Lindsay Street.

Sixteen trees, including 10 protected ones, would be removed, with excavation to a depth of 6 metres.

The tower would rise directly opposite the heritage-listed St Joseph’s Catholic Church and Hall, a short walk from Neutral Bay Public School, a childcare centre, and Neutral Bay Junction.

“The lower north shore is changing before our eyes, and it feels like there’s nothing we can do to stop it,” resident Margie told Mosman Collective.

“I have lived in this pocket of Neutral Bay for 30 years and am very worried about the destruction of our quiet little street.

“The existing infrastructure will not be able to deal with more apartments. How will the sewer cope? How will our roads cope? How will our local schools cope?

“It is a disaster waiting to happen – but the developers don’t care.”

What we know

• 26 Barry Street: a 697-square-metre house that last sold for $6.7 million in April 2022.
• 28 Barry Street: a 530-square-metre house that last sold for $6.66 million in May 2025.
• 19 Lindsay Street: a block of four flats on 409 square metres, last sold in one line for $2.45 million in 2013.
• 17 Lindsay Street: four flats on 433.7 square metres; two last traded for about $700,000 in 2014 and about $825,000 in 2018.

The two houses alone last changed hands for more than $13 million.

Vatera first sought greater development capacity on the site in 2022, asking North Sydney Council for high-density zoning and a 12m height limit across the properties.

Council declined the site-specific change, citing fragmented ownership and unassessed impacts, and then, in May 2023, prohibited new apartment buildings on medium-density residential land.

The state’s new Low and Mid Rise Housing policy, part of the government’s response to the housing shortage, qualifies sites near Neutral Bay town centre to reach 22 metres, with a floor space ratio of 2.2:1.

Developers who include affordable housing can then claim a bonus on top of that. About 10 per cent of affordable units lift the ceiling again to 26.4 metres.

Just four affordable units

Of the 37 proposed apartments, four would be set aside as affordable housing.

The mix is eight two-bedroom and 29 three-bedroom apartments, with 62 car spaces across the two basement levels.

The applicant has engaged PBD Architects for the design.

Heritage consultant, Weir Phillips, found the proposed tower would not overshadow St Joseph’s or block key views, and that the buildings being demolished have “no heritage significance”.

Vatera’s proposal joins plans for 20 apartments at 19-21 Barry Street and 45 at 54-64 Barry Street, taking three current schemes along one Neutral Bay street to 102 homes.

What happens next

The application is under assessment by North Sydney Council and is set to be advertised for public submissions from 24 June to 8 July 2026.

WE WANT TO HEAR FROM YOU: Are you a Neutral Bay resident living near the site? Email [email protected]