This is Eucalyptus leuhmanniana or Yellow Topped Ash, it is a rare species to the east coast of NSW and grows in high rainfall areas on sandstone soils, it comes in a glaucous and non-glaucus form, the glaucous form is my first choice.
Above you can see the whitish-silver stems and buds of the glaucous form. In the bush this species grows as a mallee forming several smalls trunks or stems giving it a shrubby habit, this usually happens whilst growing on a poor rocky soil. As seen below.
Grown in a garden situation in a deeper, richer soil it may only have one trunk and will reach between 4 and 6 metres high. It has showy creamy flowers and large grey leathery pendulous leaves that are limey green when juvenile. The trunks are smooth and white with the fresh stems and branchlets a deep red.
Eucalyptus leuhmanniana makes a wonderful feature tree or specimen tree in a small garden, I have found it to be tolerant of wet weather and heavy soils. Personally I think it rivals some of the more showy WA species.