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Big weekend in Bondi Junction

21-Aug-2017


The last ten years has seen Bondi Junction transformed from a concrete thoroughfare and place to buy groceries, to a world-class retail destination and highly coveted place to live. 

Although perhaps lacking the prestige of neighboring Woollahra and cool-factor of Bondi Beach, the Junction’s own merits of convenience and centrality are resonating strongly with buyers. As proof, agents CBRE and Colliers went head-to-head launching residential developments in Bondi Junction over the weekend, demonstrating there is plenty of room and demand in the Eastern Suburbs market. 

Colliers’ NewLife by developer TWT sold 70% of apartments to a mix of locals from around the area along with owner occupiers seeking to upgrade and secure an apartment in the exclusive residential enclave in a prime location

Colliers International Director of Project Marketing, David Chittenden commented “our buyers have been attracted to the iconic location of NewLife as it is perfectly situated between the beach and the CBD. While just outside of the noisy end of central Bondi Junction and situated near the heritage residential enclave end, NewLife remains walking distance to local amenities and landmark attractions such as the Westfield, Bondi Beach and the Centennial Parklands”

Iris Capital $70m residential development Grand Bondi Junction was also met with impressive market demand – selling 17 out of 39 apartments on Saturday. The most popular apartments sold were 2 bedrooms, with the highest priced apartment selling for $2.5M.

CBRE Director Ben Stewart said buyers were drawn to the boutique nature of the residence, while investors recognised the intrinsic value and capital growth in the area. 

“Our buyers today were more than impressed with not only the level of design and detail in the building itself but also the location of the development which sits at the southern end of Bondi Junction – which attracted a variety of locals, owner occupiers and investors.

“Grand Bondi Junction presents a valuable opportunity for buyers to purchase into an area with high capital growth that is close to key amenities and global attractions like Bondi Beach,” he added. 

 


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