An Ultimo block occupied by Hannah’s Pies, part of the urban fabric of the inner-city Sydney suburb, has been listed on the market.
The site at 562-576 Harris Street is being marketed as a prime development site by Colliers International with price expectations around the $20 million mark.
Hannah’s Pies in the sole supplier to the famous pie cart Harry Café de Wheels, which has been part of the Sydney landscape since the 1930s.
“This is an extremely well-located site which is linked to one of Sydney’s most iconic institutions,” Colliers’ director of investment services Miron Solomons said.
Solomons expressed solid confidence in the potential sales result, taking into account the rarity of the asset and its position in Sydney.
“Demand is very strong for freehold opportunities such as these in Ultimo thanks to the State Governments big spend on infrastructure, in and around the area,” he said.
“We are expecting a lot of interest from student accommodation providers, due to the location of this site within the student accommodation epicenter.”
The sale of Hannah’s Pies comes as part of the business launches in China, with up to 300 of Harry’s famous pie carts aiming to be rolled out across the country over the next 15 years.
The public auction for the asset will take place on 1 March.