549-559 Harris Street, Ultimo, NSW 2007 | Property Value & History | OnTheHouse
 
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549-559 Harris Street
Ultimo NSW 2007

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Land area: 1341m2
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Property Details for 549-559 Harris St, Ultimo

Building Type
Commercial
Land Size
1341m2
Local Government
Sydney
Lot/Plan
1/DP79179

Last Listing description (April 2023)

JLL in conjunction with CBRE are pleased to present 549 Harris Street, Ultimo - a compelling value-add opportunity in Sydney's dynamic City Fringe market.

Currently operating as a Data Centre and 100% leased until September 2024, the asset presents multiple future propositions including significant rental reversion, next-generation office or last mile logistics redevelopment (STCA).


Ultimo is set to benefit from infrastructure projects underpinned by a Government endorsed planning strategy focused on the transformation of the precinct.

Key investment highlights include:
Existing 4 storey asset comprising 5,604sqm* GLA with upper levels views of Sydney CBD
Situated on a significant, regular shaped site of 1,341sqm* and zoned B1 Neighbourhood Centre
Reposition into creative office, modern Data Centre or last mile logistics centre
Currently operating as a Data Centre and leased until 2024 with no further Options
Directly opposite Sydney's Powerhouse Museum, set to be transformed into a $480m Fashion & Design hub led by NSW Govt.
Passing net income of $2.06m* ($368psm*) provides genuine rental growth opportunity
*Approximate
NABERS RATINGS; Exempt - due to current use

100% freehold interest in 549 Harris Street, Ultimo is being offered by International Expressions of Interest closing 3:00pm (AEDT) Thursday 31st March, 2022.

For further information or to arrange an inspection, please contact the exclusive selling agents.

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Property History for 549-559 Harris St, Ultimo, NSW 2007

A timeline of how this property has performed in the market
Last Sold
$56,000,000
01 Jul 2022
  • 01 Jul 2022
    Sold for $56,000,000
  • 02 Mar 2022
    Listed for Sale Contact the agents
  • 07 Oct 1998
    Sold for $4,750,000
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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 2016 was 8845 people. By 2021 the population was 7410 showing a population decline of 16.2% 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 $3000 - $3999 per month on mortgage repayments. In general, people in Ultimo work in a professional occupation.In 2021, 24.60% of the homes in Ultimo were owner-occupied compared with 25.00% in 2016.

Ultimo has 6,557 properties. Over the last 5 years, Houses in Ultimo have seen a 10.70% increase in median value, while Units have seen a -5.81% decrease. As at 30 November 2025:

  • The median value for Houses in Ultimo is $1,668,761 while the median value for Units is $706,429.
  • Houses have a median rent of $900 while Units have a median rent of $750.
There are currently 46 properties listed for sale, and 68 properties listed for rent in Ultimo on OnTheHouse. According to Cotality's data, 213 properties were sold in the past 12 months in Ultimo.

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© Copyright 2025. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.

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