Thriving Bondi Beach is experiencing an exciting rejuvenation where high-end fashion and food are in demand.
Gunning’s Director of Metropolitan Sales and Investments Tom Speakman said Bondi has undergone significant changes and is a tightly held commercial and retail property market.
“Bondi is one of the hottest locations in Australia with its mix of high end brands and popup shops, eateries, luxury accommodation and lifestyle products,” Mr Speakman said
In the last 30 years Bondi has grown from a suburb with a median house price of $246,000 to recording one of the highest apartment sales in the country at $25.2 million at the renowned Pacific Bondi Development.
“Bondi is in great demand and consumers are not only looking for quality residential accommodation but world class food offerings and a sophisticated international retail experience.
“The locals are affluent, with a high proportion of professionals, creatives and merchant bankers living in the area. Sixty per cent of residents are in managerial or professional roles, earning some 50 per cent above the Sydney average wage, which makes it appealing to retailers,” Mr Speakman said.
One such brand that has taken up residency recently is British men’s designer swimwear label Orlebar Brown, which opened its flagship store on Gould Street, one street back from the world famous beach, earlier this month.
Bondi’s status as a high end beachside location right for Orlebar Brown puts it in the company of Orlebar Brown’s other locations including St Tropez, Cannes, London’s Notting Hill, Mayfair and New York’s Soho. Is a great example of the pull that Bondi has and the style icon status that has emerged.
“Orlebar Brown has a six-year lease which commenced on 1 June, 2016 with options until 2026.
“The 57sqm strata store has 6 metres of prime exposure on the street which has recently undergone a major transformation with the redevelopments of the ANZ bank of the corner of Hall and Gould Street and of the old Swiss Grand Hotel, now known as Pacific Bondi.
“The shop has now been placed on the market following the renovation and it is a flagship trophy asset that would look good in anyone’s investment portfolio,” Mr Speakman said.
The property at 1/39 Gould Street, Bondi Beach will be auctioned on Tuesday, 6 September, 2016 from 10:30am at auctionWORKS: Mezzanine Level, 50 Margaret Street, Sydney.