Harry Triguboff's Meriton buys Little Bay Cove site for $245 million

Harry Tribugoff's Meriton Apartments Group has bagged an 11 hectare waterside residential development site set in Sydney’s Eastern Suburbs for $245 million.

The Little Bay Cove site was sold through an expressions of interest campaign.

The deal was brokered by Knight Frank’s Tim Holtsbaum and Eugene Evgenikos along with JLL.

Holtsbaum said interest in the site was strong as it was “a dream site for developers; a massive 11 hectares of luxury, high end masterplan-approved land”. 

The site has approved masterplans for a combination of single-lot housing, town houses and luxury apartments. 

All remediation, site works, roads, park landscaping and infrastructure have been completed, including amenities such as water, electricity and gas.

“We’ve seen some large residential site sale transactions occur nearby in the South Sydney market but nothing of this prestige, with the coastal lifestyle and beach views,” he said.

Little Bay Cove would benefit from the NSW government’s CBD and South East Light Rail project, currently under construction down Anzac Parade, providing links to the CBD, added Eugene Evgenikos.

Meriton edged out Chinese developer Country Garden for the highly sought after site, near La Perouse, which after development will have an end value of more than $700 million, added The Australian.

Little Bay Cove is nestled along Sydney’s iconic beaches, stretching from Bondi, Bronte, Coogee and out to Little Bay.