Campbell Parade, Bondi Beach commercial offering hits the market
A retail building on the beachfront boulevard on Sydney’s Bondi Beach is set to hit the market.
The listing follows a $19.2 million sale at auction last September of the neighbouring Bates Milk Bar.
It sold to Bondi aficionados Allen Linz's Rebel Property Group, Capit.el Group's Eduard Litver and Gil Baron. There was also the $18 million nearby sale by Craig Pontey of Ray White Double Bay of the Bondi Backpackers to the Millett family last November, with plans for a WakeUp! premium hostel group.
The property at 128-132 Campbell Parade comprises 14 boarding rooms and two ground floor retail shops leased to Bondi Surf Seafood’s and Souvenir Plus.
The freehold property is spread over nearly 417 square metres.
The property will be marketed through an expressions of interest campaign closing May 31.
It is being run by Miron Solomons and Matt Pontey of Colliers International.
The agents said the Bondi market has experienced significant growth since the Bates sale.
According to Solomons, the property’s mix of residential accommodation and retail offers a diverse income stream with potential for future growth.
“Bondi Beach commercial is considered some of the most highly sought after in Australia and we expect high levels of interest from high net worth private investors and boutique investment funds, both onshore and offshore, looking to acquire a significant freehold at Sydney’s most iconic beachfront,” said Solomons.
Pontey said Bondi has always been a tightly held market with only a small amount of properties trading every year.
