Bondi Beach prestige apartment listing by Robert Fiani in slow-selling Investec block

Bondi Beach prestige apartment listing by Robert Fiani in slow-selling Investec block
Jonathan ChancellorDecember 7, 2020

Robert Fiani, of the stockbroking firm Morgans, has listed his Bondi Beach sub-penthouse in The Beach House development.

More than $6 million is being ambitiously sought by the broker who bought the Investec-built three-bedroom apartment for $4.325 million in late 2012.

The 178 Campbell Parade apartment is listed with McGrath's Steven Chen. It has 242 square metre living space, which was briefly available for $3,400 a week rental earlier this year.

Fiani also owns another apartment which was bought similiarly off the plan for $3.495 million with settlement .

The block's last sale was $1.75 million for a two bedroom, 99 square metre offering which sold through Chen, but only after nine month's marketing, preceded by four months with another agent.

It's price also showed slow growth, selling off the plan at $1.6 million in 2010, with settlement in early 2012.

A one bedroom unit sold off the plan at $810,000 in 2009, resold last year at $850,000.

A three bedroom apartment, long listed at $5.25 million by Investec, sold for $3.25 million last year.

The franchise entrepreneur Sam Linz and his wife, Barbara spent $11.5 million on their off the plan late 2010 penthouse purchase in The Beach House. The Linzes bought after living in the nearby Andrew Andersons-designed Bondi complex undertaken by the developers Allen Linz and Eduard Litver.

Ranging from 65 square metre to 250 square metres, the initial mid-2009 off-the-plan sales in The Beach House started at $740,000 for one-bedders. The project was overseen by architect Brian Meyerson, with interiors by Burley Katon Halliday, after the specialist banking group secured the site from publican Cyril Maloney for $41 million in 2007.

Theere was a $23 million sale of 15 lots, mostly retail, in 2012 by the Investec Property Opportunity Fund through agents Warren Duncan and Miron Solomons at City Commercial in Sydney and Melbourne's Gross Waddell.

It was bought by interests associated with Simon Langer, reported at the time by SMH commercial property editor Carolyn Cummins as to have been completed on a yield of about 7 percent for the eclectic mix of cafes, fashionistas and providores.

There has been some considerable turnover since the 2012 opening.

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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