Bondi Beach’s ‘The Beach House Lane’ invites retailers to purchase 12 individual investments
Eastern Suburbs investors have shown a significant interest in a newly listed group of retail investments that could be purchased for $1.5m.
A dozen individually tenanted retail investments in the heart of Bondi have been listed for commercial sale via Expressions of Interest.
Surrounded by Bondi Beach landmarks, ‘The Beach House Lane’ at 178 Campbell Parade is a retail centre on a corner location that includes 12 separate sites available for purchase.
It had previously been purchased by Auckland-based Cook Property group for $31.3m in July 2016.
The Bondi retail offering is surrounded by a number of notable retail stores, including Aesop, Sonoma, The Annex, and 98 Gym and Lean Bean Fitness.
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Listed via Stonebridge Property Group’s Tim Andrews, the 120 sqm site has been zoned to allow food and beverage operators or premium retail sites.
Speaking to The Daily Telegraph, Stonebridge partner Tom Mooreland said there had been interest from local investors and engagement via overseas buyers in Asia.
“We’ve seen strong levels of initial interest from buyers locally in Sydney, as well as interstate and offshore via our Asia practice.
“Premium commercial investment opportunities in Bondi Beach are incredibly scarce, and as such are highly sought-after when offered publicly for sale.”
The site has a triple street frontage with approved outdoor seating (STCA) and 29 sqm of remote storage
Some of the 12 retail offerings are ‘entry-level’, with pricing starting from $1.5m.
“The opportunity exists for a quality retailer to join an established Precinct located in the heart of Bondi,” the online listing said.
“Your brand needs to provide quality, evoke passion, and provide unrivalled service!”
Many of the potential buyers who looked at ‘The Beach House Lane’ had admired the location and the ‘lifestyle’ nature of the other tenants on site.
‘The $1.5m price and their entry-level offering has proven popular among the investment community in Bondi,” Mr Mooreland said.