Coles promises Neutral Bay a new plaza to sweeten redevelopment deal

The $138 million proposal would see an eight-storey complex on Grosvenor Street.

Author

Huw Bradshaw
April 23, 2026

Neutral Bay’s town centre is set for a major revamp, with 83 apartments on top of Coles and the Grosvenor Lane carpark converted to a grassy plaza.

What happened: At the meeting this month, North Sydney councillors voted unanimously to approve a planning amendment allowing the property development wing of Coles Group to build an eight-storey mixed-use development on Grosvenor Street, Neutral Bay. 

  • The site is currently home to Neutral Bay’s second Coles supermarket, the other in Big Bear Village shopping centre.

The planning proposal comes with an offer from Coles to “design and construct a new public plaza” on the council-owned parking lot. 

  • This would be facilitated through a Voluntary Planning Agreement, a legal agreement between councils and developers to fund public infrastructure around major developments.

Parking on Grosvenor Lane would be replaced by a four-level basement carpark under the eight-storey building for residents and shoppers.

The estimated cost of the project is about $140 million.