Tuesday, 9 July 2013

Australia's most expensive apartment sells for $21 million in Bondi

  Australia's most expensive apartment sells for $21 million in Bondi

Pacific unit

Buyers queue to pay up to $9 million for a slice of beachfront paradise at a previous auction at The Pacific in Bondi. Source: News Limited
The rumour mill has been spinning for more than a week, but the record for Australia’s most expensive apartment has finally been set in Bondi at $21 million.
Pacific Bondi Beach, a luxury residential development in the old Swiss Hotel complex will be home to Will Vicars, chief investment officer of Caledonia Investments.
The high-end buyer purchased two two-storey penthouses, known as the “Lighthouses” with the plan of joining the prestige pair to create a single apartment.
The super sky home will total 975sq m, including 507sq m of living space and a 468sqm terrace facing Bondi Beach.
Mr Vicars said he bought the double apartment to be a family home.
“I love the precinct and Pacific offered the ultimate lifestyle experience, including laidback living, nearby sophisticated dining and shopping, access to Pacific’s concierge services and the chance to be in the midst of Bondi’s exciting atmosphere,” he said.
Before the record sale, Australia’s most pricey apartment was in Bennelong, aka “The Toaster”, at Circular Quay. It sold for $16.8 million.
The Bondi sale has eclipsed what property watchers were expecting to beat the Australian record; the Sulman Penthouse in The Residences building, Hyde Park. With a private pool, 360 degree views of the harbour and city, plus a $100,000 a year strata bill, the city apartment has been on the market for more than a year with a $20 million price tag.
Developers Rebel Property Group and of Capit.el Group began the Campbell Pde re-development of Bondi’s Swiss Grand Hotel began back in September 2012. Sales have so far have totalled $164 million with 74 of the 76 apartments sold in one day.

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