Bondi block owned by childhood friends for over 30 years exceeds price expectations – realestate.com.au

A rare four-apartment Art Deco block in the heart of North Bondi has exceeded expectations and sold under the hammer for $7.095 million.

Driven by intense competition for the premium beach offering, the result comfortably exceeded the target price of $5.75 million, with eight registered bidders vying for the chance to acquire the entire block.

Sales agent James Ledgerwood of McGrath Double Bay oversaw the high-stakes campaign. He spoke to realestate.com.au to unravel the factors that led to this extraordinary result.

The property: A block of four Art Deco apartments (total 8 bedrooms, 4 bathrooms, 2 parking spaces) at 6A Mitchell Street, North Bondi, NSW. It was sold at auction on November 29, 2025 for $7,095,000.

McGrath Double Bay sales agent James Ledgerwood reveals the details behind the sale. Image: supplied

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Crucially, the block features two lockable garages and is located between two popular cafes, just a short walk from Bondi Beach.

Snapshot of the suburb: According to PropTrack, the average house price in North Bondi was $4.75 million in October 2025. The average unit price was $1.65 million.

What’s the most interesting thing about this sale?

A classic North Bondi art deco block with four large apartments in a prime location close to the beach, cafes and public transport – these types of opportunities are incredibly rare on the market. But perhaps most interesting is that the block was purchased together by four friends more than 30 years ago. They are all still very good friends, and this was just the right time to sell.

The block is located in North Bondi, just a stone’s throw from the world famous Bondi Beach. Image: realestate.com.au/sold

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One of them said to me after the auction that it had been great to own the block with his friends and that it had been a great experience – with no arguments over the years – and that they had enjoyed driving by knowing they owned it. It was definitely an emotional sale for them, but they were all very happy with the outcome.

Were you surprised by the result?

Yes, the price was well above expectations. It seems the buyers all kept their cards close to their chests. We expected four to six bidders and signed up on day eight. There were four active bidders and a total of 33 bids, with a starting price of $5,600,000.

How long was the property on the market?

A normal four-week auction campaign.

What type of buyers did you see during the campaign?

We had more than 70 groups and several contract holders inspected during the campaign. The buyers were mainly residents of the eastern suburbs. It was a mix of long-term investors and investors considering renovation and resale.

All four units are currently rented. Image: realestate.com.au/sold

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Much of the biggest interest came from my personal list of buyers looking to purchase near Bondi Beach.

What was the feedback you received from potential buyers?

Buyers immediately saw the long-term investment value of an exceptional beachfront opportunity that will always rent well given the size and location of the condo.

What was the most important factor that led to the final sales price?

Emotion, competition and opportunities. Well-maintained blocks of four apartments so close to the beach do not often come on the market, let alone with two garages and are maintained in such good condition.

It is located on a 447 m² block with two lockable garages to the rear. Image: realestate.com.au/sold

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The opportunity created competition among buyers and emotion drove the result. The highest bidders were all long-time residents and families looking to invest close to home.

Any predictions for this area?

North Bondi and Bondi Beach are in constant high demand. The ongoing new development enhances the lifestyle offering behind the surf and beach, with a major focus on health and wellbeing and quality restaurants and shops. I can only see that our beach market is going from strength to strength.