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.
“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.