Clutch expands its Bondi footprint with off-market acquisition

In a strategic move that is set to transform the landscape of Sydney’s eastern suburbs, Bondi developer Clutch has finalized a $16-million off-market acquisition of 135-139 Curlewis Street.

This acquisition, when combined with the developer’s neighbouring site, will create one of the largest mixed-use development sites in the region, boasting an expansive 2600 square meters.

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Clutch associate director Maxwell Chiu said the developer was expanding its Bondi Beach holdings.
“This marks our third combined acquisition within Bondi Beach, facilitating an expansive canvas for us to create not only an icon but more importantly, curate a lifestyle,” Chiu said. “We are aiming to redefine the very essence of beachside living and luxury.”

Just two months after securing approval from the New South Wales Land and Environment Council (LEC), Clutch is moving swiftly to implement its vision. The LEC greenlit a PBD-Architects-designed project for a 15 luxury apartment shoptop development on the 2080 square meter site at 141-155 Curlewis Street. The three-storey shoptop development is a testament to Clutch’s commitment to delivering high-quality, luxury living spaces in one of Sydney’s most sought-after locales.

The strategic significance of this off-market acquisition lies not only in the sheer scale of the development but also in its proximity to Bondi Beach, Australia’s most iconic coastal destination. The 2800 square meter amalgamated site, acquired at a cost exceeding $85 million, is situated less than 300 meters from the golden sands of Bondi. This prime location not only enhances the desirability of the development but also underscores Clutch’s dedication to crafting living spaces that seamlessly integrate with the unique lifestyle offered by the coastal surroundings.

Colliers agents Matt Pontey and Miron Solomons secured the off-market deal on behalf of an amalgamated owners’ group, alongside Albert Talarico of Lisa Steel Real Estate. “Bondi Beach has undergone significant intergenerational change during the past decade which has led to some of the nation’s most significant developments in what is an incredibly desirable and tightly held market,” Pontey said.

With the LEC’s approval received in September, Clutch is poised to commence construction on the shoptop development in late 2024. The developer’s meticulous planning and strategic acquisitions have positioned them as a key player in shaping the future of Bondi’s built environment.

As Clutch expands its footprint in Bondi, the $16-million off-market acquisition solidifies its commitment to delivering unparalleled luxury and innovative design in Sydney’s eastern suburbs. The amalgamation of these prime sites not only reflects the developer’s strategic foresight but also sets the stage for a landmark mixed-use development that will undoubtedly leave a lasting imprint on Bondi’s architectural landscape.

Via The Urban Developer

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