Robin Khuda snares two more luxury apartment sites
Robin Khuda is buying two more sites for his recently launched boutique residential development company, Ondas.
In Sydney’s Mosman, the Airtrunk founder is paying nearly $20 million, sources say, for 713-715 Military Road.
On 568 square metres at the south east corner of Gouldsbury Street, it contains a retail building tenanted to, amongst other businesses, Bec+Bridge, and restaurants, Cole and Genki, and six car parks.
Part of a shopping strip, it neighbours the suburb’s historic RSL, diagonally adjacent to a large Mecca.
Development is expected to occur once lease expire.
Colliers’ James Mullin, Tom Appleby and Guillaume Volz were the agents.
The deal comes six months since we reported Ondas outlaid $32m for an older style apartment block, Azura, in the suburb.
Like 713-715 Military Rd parcel, a circa-six storey project is anticipated utilising the state government’s recently introduced Low and Mid-Rise Housing Policy.
Toorak deal
Meanwhile, Ondas is outlaying a speculated $12m for three single storey villa units at 714 Orrong Rd, Toorak.
Backing onto the Country Women’s Association’s city headquarters at 3 Lansell Rd, it spreads c1580 sqm (continues below).
A six level project penned by Powell & Glenn, with eight luxury apartments, is planned.
Kay & Burton’s Nick Kenyon and Ross Savas brokered the off-market deal for the three unit owners, the most recent which paid $3.05m in October, 2024.
Measured by median value, Toorak is Melbourne’s priciest suburb, while Mosman holds that title for Sydney.
Portfolios grow
Elsewhere in Melbourne, Ondas holds sites in St Kilda, acquired by Mr Khuda in stages just after the COVID lockdowns.
Last month, we reported the executive bought Mulgrave and Spotswood sites in the suburb, for a commercial development business, Onterra.
That outlay totaled c$54.5m.
Mr Khuda banked $670m selling Aitrunk to Blackstone in 2024.
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