Bondi Beach apartment block to be redeveloped into childcare centre
An art deco block of four apartments in Sydney’s Bondi Beach has sold at a public auction and will be redeveloped into childcare facilities.
The 463-square-metre block at 34a Francis Street, Bondi Beach, is set on a quiet residential street, just 300 metres from the iconic beach.
The property, which was marketed by Colliers’ Paul Grasso and Charles Raine, alongside Hannan Bouskila and Ric Serrao from Raine & Horne Double Bay, sold to an out-of-area private buyer who intends to redevelop the site into a purpose-built childcare centre.
“This result highlights the continued strength of the Bondi market for compact, well‑located holdings with immediate alternative‑use potential,” Grasso says.
“Buyers responded to the location, the stability of the asset and the clear pathway to redevelopment.”
Development approval for “substantial alterations and additions” was already in place when it was taken to market with the listing reading:
“The approved plans allow for a complete reconfiguration of the internal layout, as well as rear and side extensions designed to enhance space and functionality.
“An additional floor will take full advantage of the property’s coastal outlooks, creating an elevated beachside retreat.”
According to the agents, the campaign generated more than 100 enquiries, over 30 inspections and 15 formal contract requests, from a broad and active buyer pool including investors, locals and developers.
“Opportunities to acquire unit blocks in Bondi that offer both income and conversion upside remain rare, and this campaign’s outcome reflects strong, consistent demand for these assets,” Raine says.
