An unimproved commercial site with development approvals attached is for sale on the CBD fringe in Sydney’s Innovation Corridor.
The 2761sq m site at Pyrmont—now a disused carpark—is cleared for a five-storey building with two underground parking levels and includes an SJB design.
Now zoned B3 Commercial, 88 Harris Street was in the Pyrmont Peninsula Place Strategy zone, a 20-year state government-endorsed framework to unlock new jobs, new opportunities and a vibrant 24-hour culture, listing agents Colliers said.
Colliers managing investment director Matthew Meynell said they were expecting strong interest locally and overseas from owner-occupiers and investors.
“With the site sitting amongst our city’s innovation corridor, it will provide the chance to deliver a future-proofed asset in a thriving destination attracting new talent and businesses,” Meynell said.
The lisiting was next to Star Sydney, the second-largest casino in Australia after Melbourne’s Crown Casino, and neighbours “notable prime office spaces on Harris Street”, Colliers said.
“Major infrastructure improvements will revolutionise the precinct, creating a low-carbon, high-performance precinct. The Pyrmont-Ultimo precinct will see approximately 4000 new homes and 8500 new residents by 2041, and The Star City Casino Masterplan will also aim to deliver a luxury six-star hotel, two new theatres and brand-new rooftop dining experience,” Colliers said.
“The surrounding area has been dominated with investment from globally recognised institutions including Dexus, Mirvac and GPT, as well as a stream of offshore capital.
“The precinct continues to attract high-profile occupiers as well, with Google, Sony, WeWork and Publicis all calling it home.”
The Colliers team of Meynell, James Girvan and Catherine Scott have the exclusive listing.
Meanwhile, also in Pyrmont, Landream has submitted Stage 2 plans for its $900-million mixed-use site.
If approved, the address at 14-26 Wattle Street will be home to a five-building complex of 237 apartments.
A pavilion will be the central feature of the development with four main buildings surrounding it: the 10-storey Jones tower, the 13-storey Courtyard building, and two 11-storey sites, dubbed Fig and Wattle.
