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Melbourne family banks on Bondi Beach auction

A former Westpac branch in the prime Bondi Beach precinct will test investor appetite when it goes to market. Located at 26 Hall Street, the site is being sold by a Melbourne family who has taken the opportunity to capitalise on the demand for substantial land holdings near the famous stretch of sand.

After 40 years, Westpac has vacated from the beachside freehold which has provided the selling Agents Miron Solomons and Matt Pontey of Colliers the opportunity to deliver the asset to market as a potential development site or investment.

Mr Solomons and Mr Pontey said over the course of 2020, Bondi Beach demonstrated that it was a safe haven for investment as investors and developers sought out markets with strong fundamentals and track record.

The former Westpac branch in Bondi Beach is being offered at auction.

The former Westpac branch in Bondi Beach is being offered at auction.

Other recent high-profile sales in along the beach in 2020 include the Colliers sale of 134 Campbell Parade for $26 million; 286a-294 Campbell Parade for $25.4 million which was jointly sold with William Manning of McGrath Estate Agents and the Sotheby’s sale of 56 Campbell Parade, Bondi Beach for $20.65 million.

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