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Commercial opportunity in Ultimo’s tightly held Tech Central precinct

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The face of Ultimo in Sydney’s city fringe is changing, spurring on significant demand for land holdings in the precinct. The NSW Government’s plan to create Sydney’s own ‘Silicon Valley’ with tech giants like Atlassian locating their new $1.4 billion headquarters adjacent to Central Station, and the nearby revitalisation of Blackwattle Bay including the Sydney Fish Market, provides a burgeoning opportunity for businesses and investors seeking to access the area.

Miron Solomons and Matt Pontey of Colliers, in conjunction with Steffan Ippolito and Dimitrios Franze of IB Property, have brought 463-467 Harris Street, Ultimo, to market this week in an attractive proposition to purchase the B4 mixed-zoned site. Housed on a commanding corner block with a three-level commercial building and showroom across a building area of 862sqm, 10 on-site parking spots and lift access, there is significant value-add opportunity.

This is an exceptional site located in the heart of a transport hub, education hub with UTS and The University of Sydney at its doorstep, the coming Tech Central Investment, and entertainment with Darling Harbour, the Sydney Fish Market and the Powerhouse Museum all nearby,” Miron Solomons explains.

The city fringe market has remained consistently strong over the last 12 months with infrastructre being the main drawcard. The re-shaping of the city fringe offers a compelling opportunity for investors, owner occupiers and developers.”

Marketed on behalf of a private owner with the sales process managed by Hannas, the price estimate for the site sits in the $7 million plus range. The online public auction, scheduled for the 30th of September, is expected to garner significant attention given the tightly held nature of the area.
PTO.

There are limited opportunities on Sydney CBD’s fringe and what has become very apparent with the recent lockdowns, is that people see the need to re-engage and the community environment of an office is a key component of work/life balance,” Dimitrios Franze says.


Related Experts

Miron Solomons

National Director, Sydney Metro Sales | Investment Services

Sydney

Miron joined Colliers International in 2013 with extensive expertise in both investment and insolvency services which remain his core specialisation.

With 20 years at the forefront of commercial transactions in Australia's most dynamic market, Miron has gained a reputation as an industry leader in the Eastern Suburbs and City Fringe markets. A consummate professional and tenacious negotiator, he brings with him a wealth of experience to Colliers International. Miron’s meticulous approach and key eye for detail enables him to deliver a truly first-class service backed up by a patient pragmatic approach and strong work ethic.

Miron’s continued specialisation in this highly diverse property arena has ensured that Colliers International offer an unrivilled level of experience and expertise. Combining these attributes with our results-driven approach and focus on customer service, Colliers International and Miron are proud to service a loyal network of clients.

 

 

 

 

 

 

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Matt Pontey

Director, Sydney Metro Sales | Investment Services

Sydney

Matt is a Director in the Sydney Metro Sales team, Investment Services specialising in the City Fringe & Eastern Suburbs selling development sites,  apartment blocks,  commercial and retail assets,.

Matt has a strong property education background with a degree in Property Economics from the University of Technology, Sydney and a further Post Grad in International Business providing him with a strong understanding of the fundamentals of property and a unique perspective of the Sydney Metro Markets.

Matt has an intimate knowledge of his market and understands the diverse dynamics of this complex and sophisticated market. He brings a unique analytical perspective and context to every transaction which comes with honing his skills in this market for over ten years in all facets of agency.

His unique and creative marketing strategies has seen he and his team succeed and deliver some of the strongest results ever delivered in the Eastern Suburbs & City Fringe market. His expertise in his market and understanding of its inner workings have afforded him an edge over his competitors and delivered for his client's time after time.

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