Bronte beachside property is one of the largest in Sydney’s east and may fetch more than $30m
An international buyer search is underway for one of the year’s largest land offerings in Sydney’s eastern suburbs — and best of all, it’s by the beach.
The 2500 sqm beachside site at 122-128 Hewlett Street, Bronte has been owned by the O’Carroll family for 50 years, according to property records, and sources estimate it’s worth upwards of $30m.
The property — which includes 22 large two- and three-bedroom apartments — is up for sale in an expressions of interest campaign closing on November 10 via CBRE agents Nicholas Heaton, Gemma Isgro and Henry Robertson.
Being just 200m from the sand, Heaton said it was one of the area’s best development opportunities in a decade.
“We expect considerable interest from local, interstate and offshore investors and developers seeking to snare one of Sydney’s largest beachfront real estate opportunities,” Heaton said.
All the apartments have private terraces and individual lock up garages.
Options for the new owner include refurbishing the existing buildings, revert rents and hold, undertake a strata selldown or fully redevelop the land subject to the relevant planning approvals.
Isgro added: “The location speaks for itself.
“The 22 apartments are generous in size and being situated in an elevated Bronte cliff position, they all benefit from 180-degree views from Bronte to Tamarama.”
The property is situated close to local amenities and shops.