A prominent stretch of the Tamarama coastline could eventually look very different after a property containing five beach apartments and a standalone shack sold for $20.25 million at mortgagee auction.
The 562-square-metre holding at 9 Kenneth Street sits on Mackenzies Point beside the coastal walk between Bondi and Bronte, overlooking Tamarama and Bronte beaches. Its existing buildings were marketed as being in significant disrepair, with the successful buyer identified as a developer from Strathfield.
Any redevelopment would remain subject to planning approval, and no approved proposal for the site was identified in the supplied material. Selling agent Alexander Phillips said he expected the existing buildings to be demolished.

A Rare Holding Beside The Coastal Walk
The north-facing property has about 12 metres of frontage to the coastal path, placing it directly alongside one of the best-known stretches of Sydney’s eastern coastline. Five apartments occupy the main block, with a separate beach shack or cabana elsewhere on the land. The site also has direct access towards Marks Park, while Tamarama Surf Club is about 400 metres away along the path and Icebergs Pool about 700 metres away.
Its sale places the future of those existing buildings in question at a location where properties are rarely offered. Phillips described the holding as one of the last unrenovated beachfront sites along that side of Kenneth Street and said properties there had not changed hands frequently in recent years.
Ray White Phillips & Co marketed the site as having scope for renovation, redevelopment or a new residence, subject to approval. Until any plans are lodged or approved, the five apartments and shack remain the defining built form of the property.

Three Bidders Chase Tightly Held Site
The mortgagee auction on 26 September drew an estimated crowd of 80 to 100 people and attracted three active bidders. Auctioneer Damien Cooley opened proceedings with a $16 million bid. Competition later moved through larger increments, including $1 million bids, before narrowing to rises of $500,000 and $250,000.
The property had been guided at $20 million to $22 million. Its reserve was initially set at $24 million before being revised during the auction, allowing the property to sell at the highest bid of $20.25 million. The successful buyer competed against a bidder from Sydney’s Hills District and an Australian participating by phone from Florida in the United States.

The final price was $8.95 million below the property’s previous $29.2 million sale, but still became the highest reported residential sale across Sydney’s eastern beaches so far in 2026. Only a Vaucluse estate that sold under the hammer for $23.22 million in June was understood to have achieved a higher residential auction result nationally this year.
The sale came during a quieter auction weekend across Sydney, where the reported clearance rate was 51 per cent from 658 results. Of 1029 scheduled auctions, 335 had sold by Sunday night, while 232 were withdrawn and 91 passed in.
At Mackenzies Point, the more immediate question is what comes next for a site that currently carries five apartments and a beach shack on one of the most exposed sections of the Tamarama–Bronte coastline. No redevelopment proposal has yet been identified in the supplied material.
Published 28-September-2026























