Retired Australian Test cricketer Brendon Julian settles on Bronte RSL apartment
Retired Test cricketer Brendon Julian, who’s having a few late nights hosting Fox Sports ICC World Cup coverage, has secured tenants for his recently-settled Bronte investment apartment.
He was among the buyers in Danny Avidan’s redevelopment of the former Bronte RSL site.
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Julian paid $2.5 million for a two-bedroom Macpherson St apartment off the plan back in October 2016, with settlement occurring only recently after delays in construction commencement.
He sought out $1500-a-week tenants, reflecting a yield of 3.1 per cent.
The 120sqm Bronte Place apartment is an investment for Julian and his wife, Suzanne, who have a nearby Bronte residence.
They bought a rundown 1970s home for $5.3 million in 2007, renovating it into a contemporary home with pool.
Former fashion mogul-turned-property developer Avidan purchased the former Bronte RSL site for $8.8 million in late 2015 from developer Winston Langley.
The sale came with approval for 21 apartments at the SJB Architects-designed project.
Avidan lodged an application to add more residences, which was rejected by Waverley Council and then the NSW Land & Environment Court.
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When launched in 2016, prices started at $1.5 million for a one-bedroom with study to more than $2 million for a two-bedroom unit — as well as a penthouse that sold for $4.6 million.
Julian likely wouldn’t have made much if he had flipped the apartment.
The neighbouring two-bedroom unit is up for sale for $2.22 million as unsold developer stock, albeit it is a much smaller and narrower apartment.