Penthouse to set $30M Bondi high water mark
It’s billed as the most exclusive offering in the eastern suburbs
Beachside luxury is taking on a new meaning in one of the country’s most famous locales, Bondi Beach.
Developer Central Element is looking to smash records with the listing of a $30m penthouse at Pearl Bondi with views across the world-famous beach.
The penthouse is billed as the one that will become Bondi’s most exclusive and high-end residence in what is a crowded field.
With an asking price of $30m, the ultra-luxurious apartment is expected to smash the suburb record – which was last set at $24m in 2022 – with the buyer able to secure one of the suburb’s most spectacular oceanfront positions.
The apartment record is held by Multiplex heir Andrew Roberts, who paid $24m for a Notts Avenue property with a panoramic 24m frontage capturing northerly views across Bondi Beach to the Ben Buckler headland.
The apartment is just 190sq m, so the price paid in 2022 equates to $126,000 per square metre.
The property has four bedrooms and uninterrupted ocean views, which make it such a prize.
Central Element has already broken suburb records in Sydney’s eastern suburbs. Last year in Coogee it recorded a $20.6m off-market sale of its three-bedroom penthouse at Ballamac House.
In that sale, a Sydney eastern suburbs local swooped on the yet-to-be-built penthouse in Central Element’s Balance development, trumping the previous suburb record: $13.1m paid by S&C Scatchi Australia’s Simon Corah and wife Monique in 2022.
Central Element managing director Nathan Chivas said he believed the project would stand out among the area’s luxury developments.
“With Pearl, we set out to create something truly exceptional – a legacy project in every sense. We’ve brought together a team of acclaimed local design talent who understand Bondi intimately and share our passion for making something extraordinary that honours its setting,” Mr Chivas said.
“This is the most exclusive and prestigious offering the suburb has ever seen – perched on one of its most spectacular oceanfront sites and deeply connected to the energy of the coast line.
With just a handful of homes available and a team of elite agents behind its release, we expect demand to reflect the rarity of what’s on offer.”
The local agents behind some of Sydney’s biggest coastal sales are handling property. They include Alexander Phillips, PPD Real Estate, Alex Lyons and Ric Serrao, Ranie & Home Double Bay & Bondi Beach; and Eddie Mansour, Ray White Projects.
Overall, Pearl Bondi will consist of five Torrens-titled houses and five house-like-proportioned apartments priced from $20m to $30m.
Values are growing quickly in the area.
Goodman Australia chief and former Villawood boss Tony Perich, his wife, Bridget, last year paid $23m for the penthouse in the Hall & Campbell development. It was the biggest shell in the Allen Linz and Eduard Litver Hall & Campbell building on Bondi Beach that overlooks the beach.
It came with parking for two cars and an additional downstairs apartment.
Mr Linz and Mr Litver are selling just two apartments in the seven-unit Hall & Campbell building on Bondi Beach.