PHOTO: 27 Hall St, Bondi Beach, may fetch $20m at the December 13 auction, the agents say.
The individual owners of two shops and six apartments have banded together to sell their building for maximum impact … they have a $20m price guide for a December 13 auction.
And the odds are looking good for the eight owners, given the red-hot location of the 593 sqm site at 27 Hall St, Bondi Beach and some sales across the road earlier in the year.
The new owner could upgrade the current 1935-era building — which generates an income of $457,000 per annum — and, subject to council approval — build a new block of units on the land behind.
“The eight owners were discussing whether to upgrade the building or take advantage of its development potential,” says Jeremy Wiesner of Wiesner Property, who shares the listing with Jerry Leis and Allan Levy of Metro Commercial.
READ MORE VIA NEWS.COM.AU
