491-493 Elizabeth StreetSurry Hills NSW 2010
Property Details for 491-493 Elizabeth St, Surry Hills
Last Listing description (February 2026)
Comprising a mezzanine office and commercial showroom on the ground floor, three levels of prime office space plus an entire floor private penthouse, this 1,195.50sqm approximately including garaging and terrace five-storey mixed-use MU1-zoned freehold solid built brick and concrete building is to be sold for the first time ever. It presents a highly valuable freehold opportunity with its prestigious Elizabeth Street address just 500m from Central station.
The building is set back behind a gated courtyard & features double entry doors to a New York-style granite lobby with secure lift access to every floor, along with commercial-grade tinted windows, extra height ceilings, zoned ducted air-conditioning and excellent internal acoustic qualities for a quiet working environment. The commercial office floors have recently been upgraded with expectational quality fit-outs and include a variety of floorplans with lock-up executive suites, partitioned office space, meeting rooms, board rooms, staff facilities, storage and communal areas.
The ground floor showroom has a visible street frontage with direct access from the courtyard & a mezzanine office level. The three office floors above would suit a variety of tenants such as legal houses, accounting firms, government agencies, consultancies, media, finance or creative enterprises.
Crowning the building is an original three-bedroom penthouse converted into a bespoke one-bedroom residence designed for the owners to live in or enjoy as a Sydney corporate entertaining base. The apartment showcases generous living space, a large kitchen and two bathrooms - including an ensuite to the oversized bedroom and a spa bath in the master, plus generous storage. Framed by wide windows and a wraparound terrace featuring a sundrenched northeast to west aspect and close city views, including Centrepoint Tower. The penthouse is interior decorator appointed and created for the ultimate entertainers' luxury residence with its outdoor barbeque and an infrared sauna on the terrace.
The property also features a newly upgraded CCTV security system, a monitored alarm, newly refurbished stairwells and secure undercover parking for up to five cars including a high clearance loading dock with convenient access from Little Buckingham Street at the rear.
Exceptionally maintained and ready to occupy, the building sits on a vastly undercapitalised footprint with potential to maximise the airspace in line with neighbouring development (STCA). Local zoning allows for substantially increased building heights of up to 22m and improved public space in the surrounding area as part of the planned 24Ha Atlassian technology hub (or 'Tech Central'). The dynamic innovation precinct will extend from Central station to Cleveland Street at Redfern with an anticipated influx of offices, boutique shops, restaurants & cafes.
'Briad House' is an extraordinary multi-investment opportunity promising excellent returns in a highly rapid growth corridor. Nearby Central station, the light rail and bus services connect the area with all four points of Sydney including the domestic and international airports, it's just 250m from the recently refurbished recreational facilities and Aquatic Centre at Prince Alfred Park. It is just 1km to the Haymarket and Chinatown precinct and 2.4km from Martin Place in the heart of the CBD.
Contact:
John Skufris
Ray White Commercial South Sydney
0414 969 221
In Conjunction With:
Jaime Upton
Sydney Sotheby's International Realty
0414 31 21 31
Property History for 491-493 Elizabeth St, Surry Hills, NSW 2010
- 10 Apr 2015Listed for Rent - Price not available
- 24 Jan 2015Listed for Rent - Price not available
- 01 Nov 2014Listed for Rent - Price not available
Recent sales nearby
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0About Surry Hills 2010
The size of Surry Hills is approximately 1.3 square kilometres. There are 17 parks, covering nearly 9.2% of the total area. The population of Surry Hills in 2016 was 16412 people. By 2021 the population was 15828 showing a population decline of 3.6% in the area during that time. The predominant age group in Surry Hills is 30-39 years. Households in Surry Hills are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Surry Hills work in a professional occupation.In 2021, 32.20% of the homes in Surry Hills were owner-occupied compared with 32.30% in 2016.
Surry Hills has 13,772 properties. Over the last 5 years, Houses in Surry Hills have seen a 4.81% increase in median value, while Units have seen a -3.78% decrease. As at 31 July 2026:
- The median value for Houses in Surry Hills is $2,327,748 while the median value for Units is $949,600.
- Houses have a median rent of $1,300 while Units have a median rent of $830.
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