This article is from the Australian Property Journal archive
AN expansive land parcel in Sydney’s eastern suburb of Bronte is being offered to market for the first time in half a century.
The 2,500sqm beach side land offering at 122-128 Hewlett Street comprises four apartment buildings built 50 years ago, with a combined 22 oversized two- and three-bedroom residences with private terraces and lock-up garages.
Nicholas Heaton, Gemma Isgro and Henry Robertson from CBRE have been exclusively appointed to manage the international expressions of interest campaign on behalf of the private vendors.
“The site offers significant development potential, and we expect considerable interest from local, interstate and offshore investors and developers seeking to snare one of Sydney’s largest beachfront real estate opportunities,” said Heaton.
Heaton added that the property represents one of the largest land parcels in Sydney’s eastern suburbs to be offered to the market this year, as well as one of the area’s best opportunities for development in a decade.
The land parcel offers significant opportunity for value-adding to potential developers, through refurbishment of the current residences on site, a strata sell-down or through a total redevelopment.
The site, which sits within close proximity to local amenities and retail offerings, sits just 200m from Bronte Beach.
“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,” said Isgro.
The expressions of interest campaign for 122-128 Hewlett Street is scheduled to close on 10 November.
