576A Harris StreetUltimo NSW 2007
Property Details for 576a Harris St, Ultimo
Last Listing description (November 2023)
Occupy, Invest or Develop in one of the most dynamic and exciting markets in Australia with billions of dollars in public and private infrastructure projects being undertaken in the immediate and surrounding precinct.
Offered as a blank canvas across 3 interconnecting Freeholds this unique Flexibility is ideal to refurbish, value -add and create diverse income or multiple income streams across this expansive footprint minutes from Sydney's CBD, Education Hub, Tech Central and Tourist mecca, Darling Harbour.
On behalf of Hall Chadwick as agent for the Mortgagee in Possession, Colliers offer 576A-580 Harris Street, Ultimo to market for sale via Expressions of Interest closing 4:00pm on Thursday, 28th September 2023.
Some key highlights are below:
- 3 adjoining commercial freeholds offered in one line
- 304m* combined Land Area approx.
- Existing approval for refurbishment to upgrade per former use as a sex premises with total GFA of 780.2m *
- Flexible MU1 Mixed Use Zoning
- Current bare shell across all 3 Freeholds
- Valuable parking
- Within 600m* to the University of Technology Sydney, Paddy's Markets and Chinatown
- Opportunity for value-add specialists, owner occupiers, renovators or developers
- Potential to reposition to student accommodation or creative office space
- Tightly held city fringe location nearby a popular retail and restaurant strip
- Key infrastructure precinct including the Powerhouse Museum, 'Tech Central' precinct, UTS Campus Master Plan, Central Walk and Light Rail Extension
- 1 minute* walk to bus stops servicing Sydney, 350m* to fish markets revitalisation light rail and 1.1km* to Central Station and Darling Harbour.
For more information don't hesitate to contact the listing agents.
*All figures are approximate.
Property History for 576a Harris St, Ultimo, NSW 2007
- 28 Nov 2023Sold for $5,500,000
- 01 Sep 2023Listed for Sale Please contact agent
- 15 Mar 2021Sold for $2,000,000
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About Ultimo 2007
The size of Ultimo is approximately 0.6 square kilometres. It has 3 parks covering nearly 2.1% of total area. The population of Ultimo in 2011 was 7,111 people. By 2016 the population was 8,837 showing a population growth of 24.3% in the area during that time. The predominant age group in Ultimo is 20-29 years. Households in Ultimo are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ultimo work in a professional occupation. In 2011, 29.6% of the homes in Ultimo were owner-occupied compared with 25% in 2016.
Ultimo has 6,499 properties. Over the last 5 years, Houses in Ultimo have seen a 43.85% increase in median value, while Units have seen a 14.54% increase. As at 31 October 2024:
- The median value for Houses in Ultimo is $1,798,734 while the median value for Units is $794,188.
- Houses have a median rent of $855 while Units have a median rent of $740.
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