Mixed-used building in Bondi Beach expected to fetch over $20 million at auction

A mixed-used commercial and residential building metres from Bondi Beach is expected to fetch over $20 million at its May 8 auction.

Located on a prime corner site at Hall Street and Gould Street, the three-level building includes eight retail shops and 10 residential apartments.

It is currently home to 7-Eleven and Flight Centre, who both have long-term leases.

“Properties like this are exceptionally rare, especially in this location, which will drive highly competitive bidding and should result in this being one of the highest priced commercial properties sold at auction for many years,” says Anthony Bray of CBRE.

“This property offers the option to sell each unit off individually, or keep as an investment and enjoy growing returns currently at $1.3 million a year, plus substantial depreciation benefits.”

“This building is strata approved and offers the possibility of increasing the floor space subject to council approval,” says Bray.

CBRE and Raine & Horne Double Bay agent Martin Maskin have the listing.