This article is from the Australian Property Journal archive
A NORTH Bondi corner block of four shops and six apartments close to iconic Bondi Beach has sold for $25.4 million at auction, almost 50% above the reserve.
Retail tenants at 286-294 Campbell Pde include The Depot cafe, Doughboy Pizza, Sage Beauty and Nio & Tony’s local grocery, and the apartments include four two-bedroom units and two one-bedroom units. There are also two garages.
Annual net income is $687,891.
Five parties attended the event at Cooley’s auction rooms, including one joining online. Bidding opened at $15 million and the reserve price $17 million.
A News Corp report indicated a member of the family that owned the block bought the other out, and had to bid in the public domain to do so.
William Manning of McGrath, and Miron Solomons and Matt Pontey of Colliers marketed the property.
Three years ago, a smaller mixed use corner block in the suburb at 50 Blair St sold for $3.82 million.
