This week saw the Pacific Bondi Beach apartment project named ‘Development of the Year’ at the 2016 Development Excellence Awards, which is run by Urban Taskforce and is in its third year.
The project, which cost around $450m and was widely advertised using Flyers and development Brochures, renovated the old Grand Swiss Hotel and created a development. This includes both residential and hotel apartments, shopping facilities and extensive parking.
Its developers were Allen Linz from Rebel Property and Eduard Litver from Capit.el Group and the building’s double penthouse is the most expensive apartment in Australia, selling for $21m.
The lead judge from the panel, architect Peter Poulet, said:
“Not only does the winner look good, it also contains a mixture of uses that add value to the local community and the new apartments have sold for record prices making the project a financial success.”
The award is another boost for the local property sector, with the nearby suburbs of Rose Bay, Randwick and Maroubra all experiencing high levels of growth and development.
The Bondi Beach project was joined in the winners’ circle by another Sydney project as the redevelopment of Four Points by Sheraton, carried out by M&L Hospitality, picked up the award for best hospitality development, rounding off a successful night for New South Wales projects.
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