Yes, 'around the bend' is a fragment because it has no verb, and
it's an incomplete thought. It's a noun phrase (bend is the noun)
or a prepositional phrase (bend is the object of the preposition
around) that can be the subject, the object of a sentence or
preposition. Some examples:
Subject: Around the bend is my house. (verb is)
Object: I live around the bend. (verb live)
Object of a preposition: He came from around the bend. (verb
came, object of the preposition from)