Pacific Bondi Beach The Lofts to launch this weekend

The much anticipated loft-style apartments at the $440 million redevelopment of the Swiss Grand Hotel in Bondi will launch this weekend, with one-bedroom lofts starting from $700,000.

Developed by Eduard Litver of the Capit.el Group and Allen Linz of Rebel Property Group, Pacific Bondi will comprise of 94 apartments, a boutique hotel operated by QT Hotels and Resorts, a health club, supermarket and a fashion and dining precinct.

"The Lofts are the most unique and rare apartments in Bondi,” says Allen Linz of Rebel Property and Eduard Litver of Capit.el group.

“Our vision was to create loft style apartments inspired by volumous spaces found in Manhattan Soho district to compliment the ultimate inspirational lifestyle only PACIFIC can offer,” says Linz and Litver.

Designed by Andrew Anderson of PTW Architects, the lofts will have interiors by Koichi Takada Architects and feature 3.5-metre ceilings, split level bedrooms and a neutral colour scheme inspired by Bondi Beach.

One-bedroom lofts range from 45 square metres to 73 square metres internally and start from $700,000.

Two-bedroom lofts range in size from 97.5 square metres to 119 square metres internally and are priced from $1.55 million.

Three-bedroom loft apartments range in size from 149 square metres to 161 square metres and are priced from $3.95 million.

“We’ve been getting an immense amount of enquiry on The Lofts, a lot of people who missed out the first stage of The Pacific have come back and are very keen to secure a loft,” says Steven Chen Director of projects at McGrath.

“What they’ve found are all the services and the architectural design are the biggest draw card. In certain areas the ceiling height will be as high as 3.5 metres, making the aesthetic feel of the apartments larger than they are,” says Chen.

Chen says McGrath has received a significant increase in enquiries from Chinese buyers, with some 50% of attendees coming to the display suite of Asian origin.

The Lofts have as expected completion date of mid-2015.

The Pacific Bondi Beach development will also include 19 luxurious lighthouse penthouses, with only seven remaining priced ranging from $5.45 million to $25 million, and a mix of lighthouse apartments starting from $575,000 for a 35-square-metre studio.

Chief investment officer of Caledonia Investments, Will Vicars, splashed $21 for two adjoining two-storey lighthouse penthouses to create a 975-square-metre super apartment.

The $25 million apartment on offer boasts a 40-metre frontage, has an internal area in excess of 500 square metres and an external area of 300 metres.

The hotel sector will comprise of 69 one- and two-bedroom hotel apartments ranging from $590,000 to $800,000.

Only ten hotel apartments remain, offering a 6% gross yield for three years.

Hotel apartments range in size from 38 square metres to 100 square metres, with hotel guests having access to a health club, gym, pool and concierge.

Apartment residents of The Lofts and the Lighthouses will also have access to the hotel facilities.

The $440 million redevelopment has an estimated completion date of early 2016.

ntrotman@propertyobserver.com.au

Images are artist impressions.