‘World class’: $100m luxury coastal apartments coming to Bondi Beach

A developer plans to turn three dilapidated buildings on a trendy Bondi Beach street into a $100m, five-level apartment block.

The five-level coastal apartment project planned for Bondi Beach.

Property developers are forging into Bondi Beach, with Central Element buying an amalgamated residential site in trendy Lamrock Avenue proposing a nine-unit coastal apartment project valued at $100m.

Central Element has quietly purchased a 1200sq m site fronting 46 and 48-50 Lamrock Avenue, which previously accommodated three dilapidated older-style residential flat buildings and houses, for an undisclosed sum, claiming the development will redefine coastal luxury.

The developer has just lodged a development application for the five-level project designed by MHN Design Union with landscaping by Dangar Barin Smith.

Under the plans the contemporary-style project will comprise two two-bedroom apartments, six three-bedders, and a four-bedroom penthouse. The lower ground floor of the block, which is metres back from Bondi Beach, will feature 15 car spaces.

“We are finalising pricing prior to launch,” said Central Element’s head of acquisitions Ryan Bennetts, adding that marketing agents and an interior designer were yet to be appointed.

Yet to be named, Central Element’s second ultra luxury development in the tightly held Bondi Beach market in recent years is expected to launch this year.

The Lamrock Avenue site is near the bustling retail heart of the trendy seaside village, renowned for its proximity to the Icebergs Dining Room, boutique shopping and iconic beachfront.

Tucked away on a quiet, tree-lined residential street, the development is expected to offer the perfect balance of coastal energy and private sanctuary, allowing residents to immerse themselves in the best of the famous world-class beach enclave, Central Element says. Each floor will feature just two apartments, with the penthouse occupying a whole floor and a wraparound terrace with panoramic views of Bondi Beach. Two ground-floor residences will extend into private gardens, both front and rear outdoor living spaces.

Sustainability is another key focus, according to Central Element, with the development incorporating energy-efficient glazing, passive design principles and extensive landscaping. The material palette will juxtapose textured stone with sleek steel and glass, creating a timeless yet modern aesthetic that pays homage to Bondi’s rich architectural heritage.

Meanwhile, Central Element’s previously announced $150m Bondi Beach project on nearby Sandridge Street, where plans have been lodged for seven ultra-premium residences with sweeping ocean views, showcases the developer’s dedication to high-end developments.

The yet-to-be named development will launch this year, according to Mr Bennetts.

None of the apartments have sold yet because they are yet to hit the market, he said, adding that there was no pricing yet and agents were yet to be appointed.

In another eastern suburbs project at nearby Coogee, Central Element is redeveloping the historic Ballamac House. It has eight luxury three-bedroom residences, including a penthouse.

The Ballamac House development in Coogee.

The penthouse has sold to an eastern suburbs buyer for $20m in a record sale for the suburb.

”We have not sold anything else, because Ballamac House will be launched in March this year and pricing is being finalised,” Mr Bennetts said. “Construction has commenced on the project, we are looking to pour ground floor slabs in the coming months and looking to complete the project by December this year.”

The marketing is being undertaken by McGrath Projects agents Robert Alfeldi and Henry Burke.

Central Element managing director Nathan Chivas said: “Sydney’s eastern suburbs market is one of the most sought-after in Australia.

“With our Ballamac House Coogee project already blowing sales records out of the water and our Sandridge Street project setting new benchmarks in luxury coastal living, our latest Lamrock Avenue development further reinforces our commitment to delivering world-class residences in this remarkable location.

“We’ve assembled an industry-leading team to create a landmark address that embraces Bondi’s unique character while offering a refined, elegant lifestyle.”