What $30 million can buy in Bondi

Bondi's luxury property market is on the verge of a new breaking a new suburb record, with the anticipated release of the Pearl Penthouse by Central Element, priced at $30 million.

If achieved, this sale will break the existing suburb record of $24 million set in 2022 and cement the Pearl Penthouse as the most prestigious and expensive residence ever sold in Bondi.

Central Element, one of Sydney's leading developer-builders, has revealed its plans for the Pearl Bondi project, a $150 million coastal development located on Sandridge Street between Bondi and Tamarama.

The development includes seven residences in total, but the centrepiece is the Pearl Penthouse - a 328 square metre, four-bedroom apartment with 3.5 bathrooms and an uninterrupted 17-metre ocean-facing frontage.

Designed as the ultimate expression of luxury coastal living, the property promises panoramic views and a level of exclusivity unmatched in the suburb.

This is not the first time Central Element has set new standards in Sydney's eastern suburbs.

In April 2024, the company broke Coogee's price record with the $20 million off-market sale of its Ballamac House penthouse, a three-bedroom apartment that showcased the firm's commitment to architecturally led, boutique coastal developments.

READ: Celebrity secrets and rock 'n' roll intrigue - Inside Sydney's legendary Ballamac House

Pearl Bondi is being positioned as a "legacy project," with each of the five apartments and two Torrens titled homes designed to elevate the expectations of coastal luxury.

Architecture firm MHNDU has been tasked with maximising the site's position along the Bondi to Bronte coastal walk, while landscape designers Dangar Barin Smith are contributing nearly 500 square metres of lush green space. Interiors are being delivered by Madeleine Blanchfield Architects, who have embraced a natural, timeless aesthetic that ties the project deeply to its seaside surroundings.

To sell what is anticipated to become Sydney's most exclusive beachfront address, Central Element has assembled a powerhouse team of agents with deep expertise in Bondi's prestige market.

Alexander Phillips of PPD Real Estate, widely regarded as one of Australia's top luxury property agents, leads the charge.

Phillips is known for breaking national records, including the $11 million sale of a one-bedroom apartment on Notts Avenue, which set the highest price-per-square-metre in the country.

Joining him are Alex Lyons and Ric Serrao from Raine & Horne Double Bay & Bondi Beach, both of whom have led some of Bondi's most remarkable sales, including a $10 million deal for a knockdown on Ben Buckler and an eye-watering result for a studio that more than doubled its price guide.

Eddie Mansour from Ray White Projects brings further expertise in off-the-plan prestige sales, having closed the $22 million deal for the AYA Penthouse on Hall Street, which remains Bondi's largest single-level apartment.

Central Element Managing Director Nathan Chivas describes the Pearl Penthouse as the crown jewel of the development and a statement of intent for the suburb.

"We've brought together a team of acclaimed local design talent who understand Bondi intimately and share our passion for crafting something extraordinary that honours its setting. At its heart is the Pearl Penthouse, the most luxurious and prestigious offering the suburb has ever seen.

"Every element - from the 17metre frontage to the timeless interiors - has been crafted to create a sanctuary that connects deeply with Bondi's coastal energy. It's a hidden treasure revealed only to a privileged few and we expect demand for the Pearl Penthouse to reflect the rarity of what's on offer."

The Pearl Bondi development will launch to market in early August 2025 by appointment only, with construction scheduled to commence in the final quarter of the year.

If the penthouse sells at its asking $30 million price, it will secure Bondi's reputation as one of Australia's most elite coastal enclaves.