241 - 245 Oxford Street Bondi Junction:
DA approved

Julian Lenthall 4 Dec 2013

Leighton Properties, in joint venture with real estate private equity firm Qualitas, has received DA Approval from Waverley Council for a 20 level residential building at the corner of Hollywood Avenue and Oxford Street in Bondi Junction.  The parties have a call option over the site to develop 129 apartments and 395sqm of high street style retail, with an end value of around $132 million.

Leighton Properties Managing Director Mr Mark Gray said “The approval of the development of this prominent gateway site moves us a step closer to offering quality new apartments in Bondi Junction. The development will offer a unique architectural design by Kann Finch Architects, in association with DC8 Architects, and Interiors by Koichi Takada. The curvilinear design will be striking, incorporating the open space around the site and the corner location with an expressive architectural form. With all apartments facing either north or east, residents will have stunning views of the Sydney Harbour Bridge and the Opera House, Sydney Harbour, the Pacific Ocean and Botany Bay.

“The development is consistent with Leighton Properties strategy to focus on inner ring urban renewal sites which are in prime locations, close to transport links, retail and places of work. This site is well located, close to the Bondi Junction Train and Bus Interchange, adjacent to Bondi Junction Westfield and only minutes from Bondi Beach, Centennial Park, a plethora of bars and restaurants.

“With a significant undersupply of quality new apartments in the area, we believe there is a strong pent up demand for premium quality residences.

“We anticipate launching the project in the first half of 2014, offering a broad selection of premium apartments, including maisonettes, studios, one, two and three bedroom apartments, most of which offer uninterrupted north facing views.The building has been designed to maximise privacy and outlook and, with the extensive range of apartments, we believe it will be attractive to a broad demographic of residents.”

Mr Mark Fischer, Director of Qualitas' real estate principal investment business said: "For some time we have been investigating development opportunities in the Sydney residential market. The opportunity to partner with Leighton Properties for our third project together was compelling. Bondi Junction is the commercial, retail and entertainment centre of Sydney’s Eastern suburbs and providing a high quality new apartment project to an undersupplied market such as this presents a strong investment opportunity for our firm”.

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Julian Lenthall

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Phone+61 2 9925 6666
Email Julian Lenthall

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