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19 Sep 2022

More Than $30 Million in Development for Newest Beachside Apartment at Brighton-Le-Sands

More Than $30 Million in Development for Newest Beachside Apartment at Brighton-Le-Sands

Plans for a mid-rise residential building have been submitted to Bayside Council for Brighton-Le-Sands, a coastal neighborhood in southern Sydney.

The corner location for the 130-apartment construction is at the northern end of Bay Street, the suburb's business hub and primary thoroughfare.

The 4000 sq m merged property at 271-275 Bay Street, which consists of four properties—three outdated low-format retail buildings and a gas station—was purchased for a total of $11 million.

The organization Vanis Holdings Pty Ltd, led by 82-year-old Greek millionaire Panagoitis Magiros, has proposed $30 million or more for development.

On the western side of the land, the 15,500 sq m construction, designed by Surry Hills-based Studio Johnson, will be built connected to the nine-story Brighton Shores residential building.

The two buildings are supposed to be joined by a parking lot and shared open areas for egress and facilities.

On the west side of Bay Street, the project will add three additional ground-floor retail spaces to the Brighton-Le-Sands retail sector.

The 13-story development will surpass the Novotel Brighton-Le-Sands on the corner of Grand Parade and Princess Street as the second-tallest structure in the area.

The apartments range in size from 50 square meters for one-bedroom setups to 95 square meters for a three-bedroom, with the bulk being 75 square meters for two-bedroom. The development will be targeted at the local owner-occupier market.

Apartments will have views of Kurnell to the south, the Blue Mountains to the west, Brighton-Le-Sands beach to the east, and Botany Bay to the north.

To ensure that the building will have little to no impact on residents and on-street parking, the developer said it would sit atop three levels of basement parking levels.

Additionally, a central community garden area at podium level is intended to "promote social interaction" and act as a natural barrier between the new apartments and the nearby private apartment complex.

Studio Johnson’s design report stated, “The proposal develops a modern contemporary aesthetic that builds on the aspirations of urban coastal living.”

“[It] will have a positive impact on the community by upgrading the existing site and providing well-designed buildings that compliment the surrounding local context [and] its layout ensures the building can cater for a large range of affordable options and equitable access for the residents and users.”

With property values rising 13% in the previous year alone, Brighton-Le-Sands was one of Sydney's suburbs to gain from the sea and tree-change trend that has escalated over the past two years.

Brighton-Le-Sands, known as "Little Greece by the Bay" because of the numerous Greek enterprises there, mixes the sophistication of the Mediterranean with a relaxed suburban mentality.

The eastern border of the neighborhood is formed by Lady Robinsons Beach, Sydney's longest beach, which had a significant role in attracting settlers in the late 1800s and early 1900s.

Seychelles, the newest beachside development in Brighton-Le-Sands, is now under construction across the street from the Novotel.

Five historic terraces were constructed at the location in the late 1880s, and it is well-known among the residents.

The terraces will be renovated and upgraded as part of the project, which also entails the construction of 31 luxurious apartments by developers Abadeen and JDH Capital.

A typical apartment is now selling for $715,000, and due to a robust rental market, Brighton-le-Sands' median rentals have increased by more than 16% over that time.