Six-pack of Bondi properties to form $40m supersite

If you thought one property in exclusive Bondi was hard to come by, try getting hold of six, all at the same time.

But incredibly, that’s what’s on offer at the famous seaside hub, with six properties being amalgamated at Bondi Junction to form a substantial potential development site that is expected to sell for around $40 million.

Owners Steve and Carmen Davidson have been approached numerous times to sell the site over the years, but have only now decided to put it up for sale, with an expressions of interest campaign to determine its future by November 28.

Commercial Insights: Subscribe to receive the latest news and updates

The site, which has frontages along Oxford St, Denison St and Mill Hill Rd, comprises four commercial properties and two residential lots, and spans 2679sqm.

Positioned within walking distance of the area’s main attractions, it is only 400m from Westfield’s Bondi Junction mall, and 300m from the suburb’s main transport interchange.

The site, which comprises six amalgamated properties, is expected to sell for around $40 million.

Colliers International’s Charles McKenzie and Trent Gallagher and Belle Property’s James Nixon are running the marketing campaign on behalf of the Davidson family.

McKenzie says buyers could enjoy a strong income from the properties while banking the land, or look to create a significant development.

“This represents a secure investment with income, refurbishment, development potential or land hold in one of Sydney’s most tightly held suburbs,” he says.

“There is huge residential upside and further growth and development for residential and commercial, with the population of the area expected to increase.”

Nixon says the site’s development credentials are strong.

“With B4 Mixed Use zoning, this site gives investors, developers and owner occupiers the opportunity to capitalise on the land’s strong development upside and holding income,” he says.