Pacific Bondi duo, Rebel Property Group’s Allen Linz and Capit.el Group’s Eduard Litver, have bought 134-138 Campbell Parade for $18.25 million at a yield of 2.7 per cent. They bought the 1951 Bates Milk Bar on the same strip for $19.12 million last year. According to the agents, Miron Solomons, director, investment services, and Matt Pontey, senior executive, investment services, and auctioneer Damien Cooley, the absolute beachfront location delivers a low risk income stream for investors as one of the last significant freehold opportunities on Campbell Parade.
“It is the third time within the space of 12 months that Colliers has been involved in the sale of a flagship commercial asset on the beachfront of Australia’s most famous destination,” Mr Solomons said. “Over the last decade the Bondi Beach commercial market has outperformed the general market, driven by a reinvigorated retail offering and the endless attraction for both domestic and international tourists.” Property HQ launch
The proptech startup Property HQ has launched its new branding and website this week with a desire to “disrupt and shake up the current status-quo” when it comes to commercial real estate search. Property HQ managing director, Piers Kennard, said the aim was to capitalise on the growing interest and innovation around proptech, “especially how it relates to commercial property and the opportunity to automate many of the traditional ways property transactions are handled”. “Although our primary offering is a seamless commercial real estate portal, we are definitely interested in expanding our service to try and automate and streamline many of the traditional property transaction tasks that can bog down tenants, agents and landlords,” Mr Kennard said.”