Central Element (CE) has officially broken ground on Pearl Bondi, a $150 million luxury residential project located at 20-22 Sandridge Street in the heart of Bondi Beach.
The development will comprise a rare collection of seven luxury residences, made up of two houses and five apartments.
The project has been designed by MHN Design Union, with interior design by Madeleine Blanchfield Architects.
CE is serving as both builder and developer of Pearl, with Kinkora joining as joint venture partner and MA Financial as funding partner.
The combined team brings together significant experience in delivering boutique residential projects to what is considered one of Bondi’s most notable developments of its kind.
The groundbreaking, held on Friday, marks the formal start of construction on the site.
The project’s design approach centres on the collection of seven homes, positioning Pearl as a boutique offering within the Bondi Beach market rather than a large-scale apartment development.
The mix of two houses and five apartments allows for a range of luxury living configurations within the one address.
Pearl adds to Central Element’s expanding footprint in the Eastern Suburbs.
The groundbreaking follows closely on the heels of the completion of Ballamac House in Coogee, another CE project that involved the sensitive restoration and transformation of a historic 1860s residence into eight luxury homes.
Together, the two projects reflect a pattern of CE undertaking distinctive, boutique-scale residential developments across Sydney’s Eastern Suburbs, ranging from heritage adaptive reuse to new ground-up construction in premium beachside locations.
At Pearl, the design collaboration between MHN Design Union and Madeleine Blanchfield Architects will shape both the external architecture and the internal finish of the residences, with the project aiming to reflect the character of its Bondi Beach setting.
The Sandridge Street site places the development within walking distance of the beach and the surrounding village, a location that has become increasingly sought after for boutique luxury housing in recent years.
Funding for the $150 million project has been structured through a joint venture between Central Element and Kinkora, with MA Financial providing capital as a funding partner.
This structure allows CE to act in the dual capacity of developer and builder, overseeing the project from initial design through to construction and delivery.
Construction on Pearl is now underway following the groundbreaking ceremony, with the development set to add to the limited stock of new luxury residences in the Bondi Beach area.
The project continues a broader trend of boutique, architecturally driven residential developments in the Eastern Suburbs, where demand for premium, low-density housing close to the coastline remains strong.
Further details on the construction timeline and completion date for Pearl Bondi are expected to be released as the project progresses.