Bondi Beach neighbours unite, sell to developer
Local apartment developer Rafi Assouline has bought what was marketed as Bondi Beach’s largest amalgamation (pictured, right) – 14 properties spanning 4683 square metres – paying just over $200 million.
Four vendors united to offer the individually titled properties at the corner of Gould Street and Beach Road, a block from Campbell Parade and the waterfront.
Guide was c$220m when it was listed in February.
The parcel could support a 16,000 sqm complex.
Preliminary plans were available for a seven level mixed-use scheme with apartments, a hotel and ground floor retail.
Major Bondi site
Mr Assouline is buying the amalgamation via HSN Property Group (continues below).
The site sits within a precinct benefiting from a land value point of view, following state government planning changes designed to accelerate medium-density and low-to-mid-rise housing supply near established centres and transport infrastructure.
Large scale development activity in Bondi Beach has been limited due to fragmented ownership patterns, restrictive planning controls and tightly held residential stock.
The 14-lot amalgamation was marketed by Stanton Hillier Parker’s Mike Stokes and Steven Kruyer.
Bondi Beach is about seven kilometres east of Sydney’s CBD.
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