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Bondi developer Clutch is expanding its footprint with the off-market acquisition of 135-139 Curlewis Street at Bondi.
The $16-million deal will create one of the single largest mixed-use development sites in Sydney’s eastern suburbs, about 2600sq m, when amalgamated with the developer’s neighbouring site.
The eastern suburbs developer won approval for a PBD-Architects-designed 15 luxury apartment shoptop development on the 2080sq m site at 141-155 Curlewis Street two months ago.
The New South Wales Land and Environment Council (LEC) agreed to the three-storey shoptop development in September, and the developer was poised to begin construction in late 2024.
The developer has spent more than of $85 million putting together the 2800sq m site, which is less than 300m from Australia’s most iconic beach.
Clutch associate director Maxwell Chiu said the developer was expanding its Bondi Beach holdings.
“This marks our third combined acquisition within Bondi Beach, facilitating an expansive canvas for us to create not only an icon but more importantly, curate a lifestyle,” Chiu said.
“We are aiming to redefine the very essence of beachside living and luxury.”
Colliers agents Matt Pontey and Miron Solomons secured the off-market deal on behalf of an amalgamated owners’ group, alongside Albert Talarico of Lisa Steel Real Estate.
“Bondi Beach has undergone significant intergenerational change during the past decade which has led to some of the nation’s most significant developments in what is an incredibly desirable and tightly held market,” Pontey said.
“The patience of the developer during a long period of time is sure to pay major dividends in the long run as they’ve unlocked what is arguably the best positioned site in all of Bondi Beach, with exciting plans already in the works,” Solomons said.
Bondi is a hotbed of development as developers mine the rich veins along the eastern suburbs.
Allambi Property recently put forward plans to turn 11 traditional flats at Bondi into 16 luxury apartments with a modern two-level addition.
The company, led by former Lendlease business development director Shaun Bond, picked up the properties in May last year for $16 million.
This included the seven shoptop flats at 222-234 Bondi Road and four flats at 1 Wellington Street, all of which were built in the 1930s across the combined 1392sq m site.
Central Element has also dipped its toes in the clear waters of Bondi, acquiring the site at 20-22 Sandridge and 21 Wilga streets for $51 million, and now intends to develop what it described as “a limited number of ultra-premium apartments and houses”.
