A penthouse apartment with a gorgeous view of Bondi Beach became the most expensive unit to ever be sold at an auction in Australia.
The four-bedroom, four-bathroom unit on Notts Avenue used to be owned by James Mayo, a former world champion yachtsman who also owns Mayo Hardware. He’s moving to an oceanfront mansion in Point Piper so he’s selling the Bondi pad he has owned for a decade.
Mr Mayo bought the unit for less than $10 million ten years ago and did a few renovations in 2020 before putting it up in the market. It was valued at $14 to $15 million but had a reserve price of $17 million as it went under the hammer.
At the auction held in mid-March, some 65 bidders showed interest despite its reserve price. Whilst some investors might consider Sydney properties as overpriced, this home is worth every penny with its stunning panoramic view of the beach and the Bondi Icebergs, as well as the apartment’s breezy and indoor/outdoor flow.
Aside from the open-plan living and dining room areas, the apartment also features a media room, oversized terraces for al fresco dining, a deck, and a gourmet marble kitchen.
According to Domain, this property had the “best position and the best aspect of Bondi.” The apartment’s final bid was at $20.1 million and was snatched up by a local.
