A prominent beachfront building in the heart of Bondi is expected to attract significant interest from developers and investors when it goes to auction next month, with an asking price exceeding $25 million.
The mixed-use property at 96 Campbell Parade sits directly across from Bondi Beach and comprises a ground-floor retail space plus six residential apartments above, occupying a 430-square-metre site.
According to Cushman & Wakefield’s listing materials, the property represents one of the few remaining freehold assets available along the beachfront stretch of Campbell Parade. The real estate agents handling the sale, Miron Solomons and Matt Pontey from Cushman & Wakefield, have scheduled a public auction for 21 April 2026.
The building’s appeal to potential buyers lies not only in its enviable location but also in its development possibilities. The property is zoned E1 Local Centre under Waverley Council regulations, with a 3:1 floor space ratio and 15-metre height limit.
The site has an interesting ownership history within Sydney’s hospitality scene. Property records indicate it was previously owned by John Hemmes — father of pub and hospitality entrepreneur Justin Hemmes — and his wife Merivale. The Hemmes family sold the property in 2012 for $7.8 million to its current owners, a private company called 7TH Wave, owned by George and Christine Penklis.
John Hemmes, who passed away in 2015, founded the Merivale hospitality business alongside his wife. Their son Justin has since expanded the enterprise into a billion-dollar portfolio spanning New South Wales, Victoria and Byron Bay.
The building previously housed a Commonwealth Bank branch in its ground-floor retail space.
With holding income from existing tenants and the potential for future redevelopment, the property offers buyers both immediate returns and long-term strategic value in one of Sydney’s most sought-after coastal locations.
Published 6-March-2026
