Bondi Beach home of Bondi Surf Seafood and Souvenir Plus up for auction for first time in 55 years

128-132 Campbell Pde, Bondi Beach, has incredible potential, as the developers and hoteliers interested well know.

This Bondi Beach site is famous for its tasty fish and chips, but now it’s going up for auction with developers and hoteliers salivating about its potential.

The two beachfront shops, currently occupied by Bondi Surf Seafood and Souvenir Plus, with a rebuilt “next generation” boarding house above at 128-132 Campbell Parade, have a price guide of over $26m for the December 8 auction via Miron Solomons and Matt Pontey of Colliers.

The property last traded 55 years ago.

“Everyman and his dog,” is keen on the Bondi Beach site, according to Pontey.

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An aerial view of Campbell Parade and iconic Bondi Beach.

Developers will no doubt be inspired by the incredible views of the beach and the council approvals obtained at both neighbouring properties.

The prized listing comes just two years after the two shops next door at 134-138 Campbell Parade, Ben & Jerry’s icecream shop and Ezy Mart, sold for $26m.

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That site is currently being redeveloped by Princeton into eight luxury residences, priced between $1.75m for a studio up to $22m for the penthouse, via The Agency’s Steve Chen, above new ground-floor retail.

And rumour has it that Capit.el Group’s Eduard Litver and Allen Linz, the developers behind Pacific Bondi and The Bondi, have seven luxury residences on the way for 124 Campbell Parade.

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Meanwhile, up closer to Bondi Rd, Noahs Backpackers on a 1087sqm site at 2-12 Campbell Pde sold for $68m in June to pub baron Jon Adgemis’s Public Hospitality Group.

The terrace at 128-132 Campbell Pde, Bondi Beach.

That had been owned by the Harkham family since 1997, when they bought the two main corner buildings for $5.6m. They added the four flats above a laundromat next door in 2020 for $8.5m.

It’s not known what the private vendors paid for their two beachfront shops on a 417sqm block in 1967, but they’re set for quite a windfall.

Still it’s a remarkable opportunity for a savvy buyer.

Beyond the development possibilities, subject to council requirements, it currently offers a net income of about $560,000 from multiple and diverse income streams.

The two upper levels offer 17 self-contained rooms, each with its own kitchenette and bathroom. There’s also a common room.

Solomons says he expects it to be popular: “We have been fortunate enough to work with a few of the families along Campbell Parade who have owned these buildings for generations,” he said.

One of the self-contained residences at 128-132 Campbell Pde.

“It is special real estate and this is always acknowledged by the market in both the competition we see when these rarely pop up and in the outcome which tends to re-write records.”

Pontey agreed.

“Given the tightly held nature of this famous strip we have witnessed significant and unwavering demand throughout different markets,” he said.

“This was tested both this year and throughout the pandemic and if anything, the demand increased because of the fundamentals on offer here.

“It is a special place to own real estate.”

The site has B2 Local Centre zoning with a height limit of 15m and rear lane access.

Solomon said the Bondi market is still adjusting after the monumental $68m sale of Noah’s Backpackers in June through Solomons and Pontey, which showcased the skyrocketing demand for prime property on Campbell Parade.

An aerial view of the beach with the famous Campbell Parade strip beyond.

“When we offered Noah’s earlier this year it just underpinned what we already knew about this famous street,” Solomons said.

“We see demand matched by developers, investors and even owner-occupiers.

“There aren’t too many places where this seems to happen.

“It’s developers looking to deliver beachfront apartments; investors chasing resilient bullet-proof property with mouth-watering capital growth and even the odd owner-occupier looking for a beachfront business or place to build their dream home, unwind and maybe catch some waves.

“It will be interesting to see who gets the keys to this one.”