Three lots of land sell for $51 million on Bondi Beach

Imagine owning a piece of the iconic Bondi Beach in Sydney, Australia. Well, for one lucky buyer, that dream became a reality as three lots of land sold for a staggering $51 million. Purchased by Central Element, an independent property developer, the site includes 20-22 Sandridge Street and 21 Wilga Street, covering just over 2000 square meters. The buyer has big plans for the space, intending to develop “ultra-premium apartments and houses at a scale not seen before in the Eastern Suburbs.” With direct access to the Bondi to Bronte coastal walk, outdoor areas, swimming pools, and stunning beach views, these new residences are set to redefine luxury living. Construction is scheduled to begin in 2025-26, and with prices starting from $20 million, it’s clear that this is an opportunity for only the most affluent buyers.https://www.youtube.com/embed/fmwVA9tJpH8

Three lots of land sell for $51 million on Bondi Beach

If you’ve ever dreamt of living near the stunning shores of Bondi Beach in Sydney, Australia, then you may be interested to learn about the recent sale of three lots of land in that area. The staggering price tag attached to these properties is sure to catch your attention – a massive $51 million! Independent Sydney property developer Central Element is the lucky buyer, acquiring the lots from Raine and Horne Double Bay/Bondi Beach. Let’s delve into the details of this exciting purchase.

Purchase Details

Central Element’s purchase includes the properties located at 20-22 Sandridge Street and 21 Wilga Street, which have been amalgamated into three lots encompassing just over 2000 square meters. This prime real estate provides an incredible opportunity for Central Element to create something truly special on Bondi Beach.

Buyer and Seller

Raine and Horne Double Bay/Bondi Beach played a significant role in this transaction, acting as the seller of the three lots of land. On the buyer’s side, Central Element, an independent property developer based in Sydney, seized the opportunity to snap up this coveted piece of Bondi Beach real estate.

Location and Size

The three lots of land are located right beside the iconic Bondi Beach, making them highly desirable for those seeking a beachfront lifestyle. Additionally, their combined size of just over 2000 square meters provides ample space for development and the construction of luxury homes.

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Development Plans

With such a significant investment in the Bondi Beach area, Central Element has exciting plans for the development of these three lots of land. Let’s take a look at what’s in store.

Overview

Central Element intends to create “ultra-premium apartments and houses at a scale not seen before in the Eastern Suburbs.” This ambitious project will offer residents an unparalleled living experience, combining luxury, convenience, and breathtaking coastal views.

Features of New Homes

The new homes to be built on these properties will boast a range of impressive features. Residents will have direct access to the renowned Bondi to Bronte coastal walk, allowing them to fully enjoy the natural beauty of the area. Outdoor spaces, including swimming pools, will provide opportunities for relaxation and leisure. Furthermore, secure parking will ensure residents have peace of mind when it comes to their vehicles. And of course, the highlight of these new homes will be the stunning views over Bondi Beach itself.

Price Range

While the sale price of the lots themselves was already significant, potential buyers may be surprised to learn that the price range for these new residences will start at a staggering $20 million. This reflects the exclusivity and luxury that comes with living in such a sought-after location.

Construction Timeline

Construction on this exciting development is slated to begin in 2025-26. While it may seem like a long wait, the time will undoubtedly be well-spent to ensure that these new homes exceed expectations and deliver an unmatched living experience.

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Property Market in Bondi

Considering the substantial investment made by Central Element in these three lots of land, it’s worth exploring the property market in Bondi. Here’s what you need to know.

Buoyancy in Bondi Market

The property market in Bondi has been exceptionally buoyant, with high demand and impressive sale prices. Buyers are drawn to the area’s stunning coastal location and vibrant beach lifestyle. The recent sale of an apartment in Bondi achieved a price of over $125,000 per square meter, further highlighting the allure and value of the local real estate market.

Recent Sale Price

While the recent sale of the three lots of land for $51 million is undoubtedly a remarkable feat, it’s essential to note that this is not an isolated case. Bondi Beach consistently attracts high prices, reflecting the desirability and prestige associated with living in this iconic location.

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Additional Property News

In addition to the exciting sale of the three lots of land in Bondi, there is more interesting property news to explore. Let’s take a look.

Graffitied Former Convenience Store in Sydney’s Tempe Captures a Buyer for $1.45 million

In an unexpected turn of events, a graffitied former convenience store in Sydney’s suburb of Tempe has managed to capture the attention of a buyer. Despite its unconventional appearance, the property sold for an impressive $1.45 million, demonstrating that unique properties can still hold significant appeal in the real estate market.

Contact 9News

If you have any property-related stories or inquiries, don’t hesitate to reach out to 9News via email at contact@9news.com.au. The team at 9News is always eager to hear your stories and assist with any property-related matters you may have.

In conclusion, the recent sale of three lots of land on Bondi Beach for a staggering $51 million is a testament to the desirability of this iconic location. Central Element’s ambitious development plans promise to deliver ultra-premium apartments and houses that will redefine luxury living in the Eastern Suburbs. With construction set to begin in the coming years, those lucky enough to call these new residences home will enjoy direct beach access, stunning views, and a lifestyle like no other. As the Bondi property market continues to thrive, this sale serves as a reminder of the enduring appeal and value of beachfront real estate.

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