Auction record $20.1 million paid for Bondi Beach apartment

There were seven buyers registered for the Bondi Beach penthouse that sold for $20.1 million at auction on Saturday
Auction record $20.1 million paid for Bondi Beach apartment
Jonathan ChancellorMarch 21, 2021

A Bondi Beach penthouse sold for $20.1 million at weekend auction, becoming the most expensive apartment ever sold at auction in Australia.

But it is not a record price for Bondi Beach penthouses.

The 16/16 Notts Avenue home was sold by former world champion yachtsman and hardware store director, James Mayo.

It last traded for $9.8 million in 2016 and at $8 million before that in 2009.

The opening bid for the four-bedroom, four-bathroom penthouse was $14.5 million - and within the pre-auction buyer’s guide of $13 million to $15 million.

The penthouse sold through Ben Collier of The Agency Eastern Suburbs to a local buyer.

Bondi Beach’s $21 million suburb record for an apartment was set in 2013 when fund manager Will Vicars bought a double penthouse in the the Bondi Pacific project off-the-plan.

It is believed the highest prior auction sale of an apartment in Sydney was the Cliff Towers, Point Piper sale last October for $13,025,000 at a hotly contested auction.

The three-bedroom apartment at 2/124 Wolseley Road sold through Sydney Sotheby’s International Realty agent Michael Pallier when three of the seven registered bidders were active throughout the auction. 

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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