Thu. Sep 21st, 2023
    Sydney’s Bondi Beach Sets Record with $51 Million Sale

    A record-breaking sale at Bondi Beach in Sydney’s eastern suburbs may be the highest deal of its kind in any oceanfront suburb in New South Wales. Three clifftop dwellings located on Sandridge Street have reportedly sold for around $51 million. The properties were listed with a price range of $50 million to $55 million and sold on August 30. The exact sale result and details about the buyer have not been disclosed.

    The potential record-breaking sale comes close to matching the previous sale of a 1920s bungalow in nearby Tamarama, which had a price range of $47 million to $52 million and sold for an undisclosed sum in May. According to sources, the Tamarama property sold for close to the lower end of the range.

    The Sandridge Street properties offer spectacular views of Bondi Beach, Ben Buckler Headland, and Tamarama. Included in the sale is 20 Sandridge Street, a boarding house on approximately 719 square meters, a block of apartments at 22 Sandridge Street on approximately 655 square meters, and another block of apartments at 21 Wilga Street on approximately 676 square meters.

    The prime location presents an opportunity for redevelopment into luxury apartments or personal dwellings, subject to council approval. The properties are conveniently located just 300 meters away from the trendy boutiques, cafes, and restaurants of Campbell Parade.

    This sale is expected to break previous sales records in Bondi Beach, with the highest sale for 2023 to date being $22.5 million. The highest sales in 2020 and 1993 were $26 million and $27 million, respectively.

    (Source: The Sydney Morning Herald, Raine & Horne Double Bay)