Bates Milk Bar at Bondi Beach sells for $19.12 million

Bates Milk Bar at Bondi Beach sells for $19.12 million
Bates Milk Bar at Bondi Beach sells for $19.12 million

The developers of the Pacific Bondi, Rebel Property Group's Allen Linz, Capit.el Group's Eduard Litver along with Gil Baron have splashed out $19.12 million for one of Bondi Beach's most iconic retail premises, the 1951 Bates Milk Bar.

The 124 Campbell Parade corner milk bar was known for its choc-malt milkshakes until its closure in 2001.

It sold at just over 3 percent given heavy competition from developer, Theo Onisforou who was the underbidder for the premises on the corner of Campbell Parade and Hall Street.

Developer Danny Avidan, who recently secured the Bronte RSL site, also attended the 45 minute auction which saw a $10 million opening bid.

The buyers plan to redevelop the property which is currently leased to retailers Platypus Shoes, Natalie Alamein, Mezi Retail and Gelatissimo.

This article was first published in the Saturday Daily Telegraph.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Retail Sale Bondi Beach

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