Not so grand sales result for Iris Capital at Bondi Junction

Iris Capital only sold 17 of 39 apartments at its new $70 million development Grand Bondi Junction in Sydney's east.

The most popular apartments sold were two-bedroom units.

The highest priced apartment was $2.5 million.

Melton South Vic launched their $70 million residential development claiming "impressive market demand" - although it continued the recent downturn in the initial Saturday sales tally to around 50 percent rather than the 100 percent sellouts in the off the plan sales heyday.

The development attracted strong interest from local owner occupiers purchasers from around the Eastern Suburbs area, CBRE agent Ben Stewart noted, adding Grand was destined to become a timeless residence in Bondi Junction.