ApartmentsVanessa CrollWed 17 Jun 26
Stargate’s $11m Sub-Penthouse Sale Resets Bondi Junction Unit Record
An $11-million off-the-plan deal has broken the Bondi Junction apartment sales record in a project enlarged under NSW affordable-housing incentives after construction began.
The off-market deal was struck at Stargate Property Group’s Centennial Collection, a two-tower development at 194-214 Oxford Street and 2 Nelson Street.
Stargate said the price exceeded $55,000 a square metre based on internal area. Across the apartment’s full 266sq m internal-and-balcony footprint, it equated to about $41,350 a square metre.
The result surpassed an $8.55-million sale reported within the project in 2024, lifting its record by $2.45 million, or almost 29 per cent.
Ray White Projects sales director Marcello Bo said demand remained strong for larger apartments offering “scale, privacy, rarity and long-term liveability”.
The anonymous buyer—a financial advisory firm managing director and recent divorcee with children—had paid $6.5 million for a lower-level three-bedroom apartment in 2025 before upgrading to the half-floor residence on level 10.
He plans to use it as his primary home, with his children visiting regularly, and said proximity to Bondi Junction station, Centennial Park and nearby eastern suburbs precincts had driven the purchase.
The three-bedroom, three-bathroom apartment includes two car spaces, a storeroom and outlooks across Centennial Park, Sydney Harbour, the Opera House and Harbour Bridge.
Designed by SJB, the apartment was a penthouse under the original scheme but became a sub-penthouse after Stargate won approval in November 2025 to build additional floors above it.
The developer used infill affordable-housing provisions under the NSW Housing SEPP to expand an earlier approval for 70 apartments across two 10-storey buildings.
The approved $80-million scheme now comprises 79 apartments, including 17 affordable homes, in towers rising to 13 and 16 storeys.
Plans also include ground-floor retail, a public plaza, a pedestrian link between Oxford Street and Osmund Lane, a podium pool, rooftop pool and gym.
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Approval followed objections from rthe Waverley Council, the Heritage Council and residents over height, visual impact, overshadowing, parking and effects on Centennial Park.
The NSW Department of Planning found the stepped design responded to the prominent triangular site and would not cause unreasonable visual, heritage or overshadowing impacts.
Stargate, through its Westgate BJ vehicle, had already begun basement and lower-level works under earlier approvals before pursuing additional height.
Completion is expected later this year.
