The Beach House Lane retail strip on Campbell Parade, Bondi Beach has understood to have been sold.
It was listed last month with expectations of more than $30 million by the Melbourne-based investor GLG.
GLG, which manages $200 million in assets, appointed Stonebridge Property Group to sell the property at 178 Campbell Parade.
The centre is 100 per cent leased to 14 retailers, including premium fashion and restaurant operators.
No sale details have been revealed but it is understood that terms have been agreed at $32 million.
Its annual income was given as $1.836 million.