One-bed apartment in iconic North Bondi block listed with rare addition: a garage
A single garage of only 20 square metres is what makes this small Sydney beachside unit worth more than a typical Australian house.
So, what is the premium for parking on the doorstep of the nation’s most famous beach? Try $1.5 million.
That’s the price guide of this one-bedroom apartment with a rare separate garage, steps from the golden sands of Bondi Beach.
Garages and parking spots are so scarce near the Bondi foreshore that many people try to buy them separately from the properties they belong to. Locals have contacted the agent of this listing, at 12a/77 Ramsgate Avenue, North Bondi, to ask if the garage alone is available.
The agent, Christophe Serrao of Raine & Horne Double Bay, says the buyer could be a local investor who will use the garage for their own beach parking and lease the ground-floor unit.
“There’s a good chance there will be a very strong number of buyers that will have that tactic or play in mind,” Christophe says. “There will also be a lot of people – expats and whatnot – who will want it as a pad in general, but [the parking] opens up the target market to everyone, including people who just need a car space attached to their other properties.”
It’s a strong possibility as the lock-up garage, one of only three associated with the building, sits on its own title.
“I have had the question from many locals if they could buy it separately,” Christophe says. “However, that’s not an option we’re investigating. Anything could happen, but we’re just starting the process.”
Last year, a vendor in North Bondi rejected a $1 million offer for just the garage of their apartment at 17/101 Ramsgate Avenue. The two-bedroom ocean-view home – and the garage – sold in March for $3.75 million through Ric Serrao of Raine & Horne Double Bay.
The vendor seriously considered the offer, Serrao told Domain during the campaign, but debated what impact removing the garage would have on the overall value.
The apartment at 12a/77 Ramsgate Avenue has a north-facing living zone, a sunny kitchen with timber bench, and a white-tiled bathroom, and will go under the hammer on October 11.
It is in an art deco building that has broken price records. In February, Serrao sold a petite 34-square-metre apartment in the block for $2.32 million, which equated to about $68,000 a square metre – a new square-metre record for established properties in the sought-after suburb.
The block at number 77 has private access to Bondi Beach promenade – a feature that has helped many smaller properties here achieve six-figure prices.
“You open your door, walk down the stairs, and you’re directly on Bondi Beach – it’s one of only two buildings that does that,” Christophe Serrao says. “However, the other building is someone’s home, so it’s really the only building available to anyone who wants to experience that lifestyle.”
The national median house price, according to the latest Domain House Price Report, is $1,207,857. The median unit price in North Bondi is $1.46 million, which represents a rise of 7 per cent over 12 months.
Apartments for sale right now in North Bondi
This spacious, modernised, two-level apartment has three bedrooms, a main-bedroom suite with a balcony and romantic windows, and a home office as well as a study.
In a prime spot on the Ben Buckler headland, this apartment overlooks the sweep of Bondi’s famous foreshore. The bedrooms have platforms for the beds so the new owner can take in the view with their head on the pillow.
This two-bedroom apartment sits in an art deco block of only four dwellings. It is centrally located near the village, so cafes and boutiques, as well as the water, are in easy reach.
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