Melbourne developer buys $60m Sydney harbourfront site

The Kurraba Point block sold for $60 million.

High end Melbourne residential developer PB & Co has swooped on a 4240 square metre harbourfront site on Sydney’s Lower North Shore.

The 1.05 acre amalgamation.

The Kurraba Point block is costing $60 million from the Ilic family.

It includes 184B-190 Kurraba Road and 23 Baden Rd – several parcels, zoned a mix of R4 High Density and R2 Low Density.

With a seven storey apartment tower, two duplexes and a historic home, the holding was marketed for its potential to make way for at least one high rise tower.

Older blocks in the area rise between eight and 10 floors.

Koichi Takada called in for design

PB & Co chief executive officer and executive director Alex Bragilevsky said he has appointed Koichi Takada for preliminary concepts and design (story continues below).

Belle Property Mosman Tim Foote and Stefon Bertrom with CBRE’s Nicholas Heaton represented brothers Glen and Randon Ilic.

The land contains a home once owned by sailing pioneer Trygve Halvorsen – acquired by the vendors in 1975 – and neighbouring blocks purchased and developed in later years.

Across the road, Thirdi Group is developing a luxury residential complex – Kurraba Residences.

A Lower North Shore apartment record price was reportedly set in 2016 when former Archer Capital director, Rugby Australia board member, Peter Wiggs, paid $21m off-the-plan for the penthouse at McMahon Point’s The Bradfield.

That deal settled early last year.

In Melbourne, PB & Co is marketing two projects at Brighton, where it is headquartered. Another development, with five residences, is earmarked for Toorak’s Clendon Rd.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of