Bondi Junction site with five level apartment development plans sells for around $9 million
A Bondi Junction apartment site permit-ready for a five level apartment building, has sold for around $9 million.
The incoming developer intends to proceed with the approved project at 110-116 Bronte Road.
The Bureau SRH designed complex will contain 20 dwellings, two shops and basement parking at the corner of Bronte Rd and Porter St.
Cohen Handler development and commercial acquisitions director Tas Costi represented the purchaser
Metro Commercial’s Zorick Toltsan was the selling agent of the site known Metropolitan 2022.
The developer Three Chefs Hats had paid $4.9 million in 2015 for the site on delayed settlement terms that saw a 2017 settlement. The retail premises have been occupied by Worldwide Travel, Medani Bakery and Awaken Life Chiropractic.
It has previously brought projects to market at Rose Bay and Bellevue Hill.
The development application was first lodged in 2014 with the 110–116 Bronte Road application the subject of Land and Environment Court (LEC) appeal in 2017.
The Waverley Council noted the determination of the appeal saw the LEC ensure compatibility with the current street character as well as the desired future street character as set by the WLEP2012 and the WDCP 2012.
The appeal for 110–116 Bronte Road was determined by Commissioner O’Neill who noted the requested exceedance of the height of buildings development standard was not justifiable on the basis of the form and height of the nearby Waverley telephone exchange building, nor its corner position.
The one and two bedroom units were offered by Richardson and Wrench-Bondi Junction agent Andre Frack in 2018 when completion was expected for late 2020.
The apartments that all come with 15 sqm terraces were initially prices from $945,000 for one-bedroom units spanning 50 sqm internally. They were priced to $1.19 million.
The two-bedrooms have about 80 sqm of internal space answer listed for between $1.6 million and $1.9 million.
No new pricing intentions have yet emerged.
