Flats in 12-13 The Esplanade have fetched $53 million. Picture by Murray Trembath

Adjoining old blocks of flats on the Esplanade, a stone's throw from Cronulla beach and with prized north-facing views, have sold for record sums.

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Sharp Development Sites has sold 16 flats in a red brick block at 12-13 The Esplanade to shire developer and builder D.velop.R for $53 million.

Principal Greg Sharp said the result was Cronulla's highest sale price for amalgamated units in a single block.

"The 1800 square metre site is just 100 metres from Cronulla beach and has a rare north-facing aspect, as well as panoramic ocean views," he said.

12-13 The Esplanade is about 100 metres from Cronulla beach. Picture by Murray Trembath

"It's like Byron Bay, on the east coast but faces north.

"The existing building, which was built in the 1960s, has two and three bedroom units over three storeys.

"The Expression of Interest campaign generated strong interest from developer-buyers across Sydney.

"Suzanne Hibberd of Abode Property at Cronulla assisted a number these prospective buyers in the design and pricing of potential new apartments on the site."

The adjoining property to the south, 11 The Esplanade, sold for $22 million at auction on April 16.

Selling agent Highland said the result was the highest price ever secured at an auction in Sutherland Shire.

There were six registered bidders for the property.

The two to three-storey building is currently configured as two oversized full-floor apartments, but the 588sqm property was promoted as having "outstanding potential for significant redevelopment or boutique enhancement".

11 The Esplanade, sold for $22 million at auction on April 16. Picture supplied

Development potential has been enhanced by the state government's low to medium range housing policy, which would allow a six-storey building.

The identity of the buyer, who is believed to be from the shire, was not divulged.