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Investment Highlights

  • Prime five-storey freehold building with showroom, offices, and luxury penthouse residence.
  • Includes secure parking for five cars, loading dock, gated entry, and flexible zoning with future development potential (STCA).
  • Located 500m from Central Station in the heart of Surry Hills’ Tech Central growth hub.

Executive Summary

491-493 Elizabeth Street, Surry Hills, represents an extraordinary freehold opportunity in one of Sydney’s most strategic growth corridors. Spanning approximately 1,196 sqm across five levels, this immaculate mixed-use building combines premium office accommodation, a ground floor commercial showroom, and an exclusive penthouse residence with wraparound terraces and city views. Offered for the first time, the property sits just 500m from Central Station and within Tech Central, the government-backed innovation hub set to transform the precinct with major infrastructure and technology investment.
Featuring high-quality office fit-outs, flexible floor layouts, secure lift access, and parking for up to five cars plus a loading dock, this asset is primed for occupation or repositioning. Zoned B4 Mixed Use, it offers development and value-add potential (STCA), with height allowances up to 22m and future demand driven by Tech Central’s $48.2M commitment and Atlassian’s headquarters nearby. This is an unparalleled opportunity to secure a landmark building with significant upside in a premium location.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
12,874 SF
Building Class
C
Price
$11,051,500
Price Per SF
$858.46
Cap Rate
4.84%
NOI
$534,750
Percent Leased
41%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
2,368 SF
Building FAR
5.44
Lot Size
0.05 AC

Amenities

  • Natural Light
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Build-Out
  • Available
  • Ground
  • 1,507 SF
  • Retail
  • -
  • Now

This boutique office and retail opportunity offers a versatile layout in a highly sought-after Elizabeth Street location. The property features a ground-floor retail or showroom area complemented by a mezzanine office level, providing flexibility for a range of business uses. High ceilings and an open design create a bright, spacious environment, while air-conditioning ensures year-round comfort. Positioned slightly set back from the street, the property benefits from a front courtyard area that enhances visibility and provides an inviting entry point for customers or clients. The location offers strong connectivity to surrounding retail, dining, and business amenities, making it an attractive choice for operators seeking a central and accessible address. On-site parking is available at an additional rate, adding convenience for staff and visitors. This property combines functionality with a prominent position, making it well-suited for businesses looking to establish a presence in a vibrant commercial corridor.

  • 1st Floor
  • 2,368 SF
  • Office
  • Full Build-Out
  • Now

This full-floor office opportunity offers a highly functional layout within a boutique security building, providing businesses with a professional and efficient workspace. The tenancy occupies the entire first floor and is accessed via a secure lift, ensuring privacy and convenience for staff and visitors. The interior features a quality fit-out that includes private offices, boardrooms, reception area, showrooms, and open-plan workstations, creating a versatile environment suitable for a range of business operations. Large windows on two sides of the floor deliver abundant natural light, enhancing the overall work atmosphere. Additional amenities include ducted air-conditioning for year-round comfort and a kitchenette for staff convenience. Located within a short walk to Central Station, the property offers excellent connectivity to public transport and easy access to surrounding amenities, including dining, retail, and business services. Security parking is available, adding further value for tenants seeking both accessibility and convenience.

  • 2nd Floor
  • 2,368 SF
  • Office
  • Full Build-Out
  • Now

This entire-floor office space offers a complete, high-quality fit-out within a boutique security building, providing an exceptional environment for professional operations. The tenancy includes multiple private offices, boardrooms, a welcoming reception area, showrooms, and workstations, all designed for functionality and efficiency. Ducted air-conditioning ensures comfort throughout, while large windows on two sides deliver abundant natural light, creating a bright and productive workspace. Access is seamless with a secure lift directly to the tenancy, complemented by security parking for added convenience. Positioned within walking distance of Central Station, the location offers excellent connectivity to public transport and proximity to a wide range of amenities, making it an attractive choice for businesses seeking accessibility and prestige.

  • 3rd Fl-Ste 3A
  • 538 SF
  • Office
  • Partial Build-Out
  • Now

This open-plan office space offers a functional and modern environment within a secure building, designed to meet the needs of today’s businesses. The tenancy benefits from expansive windows that flood the space with natural light, creating a bright and inviting atmosphere. High ceilings enhance the sense of openness, while air-conditioning ensures year-round comfort for staff and visitors. Conveniently located just a short walk from Central Station, the property provides excellent connectivity for commuters and clients alike. The surrounding area is vibrant, with an array of cafes, bars, and restaurants at your doorstep, offering ample options for dining and informal meetings. Onsite amenities include a kitchenette and private toilet facilities, adding convenience and practicality to the workspace. This location combines accessibility, functionality, and a dynamic neighborhood setting, making it an attractive choice for businesses seeking a well-appointed office in a central hub.

  • 3rd Fl-Ste 3B
  • 753 SF
  • Office
  • Partial Build-Out
  • Now

This 70 sqm open-plan office offers a functional and light-filled workspace in the heart of Surry Hills, just minutes from Sydney’s Central Station. Recently refreshed with new carpet and fresh paint, the suite provides a professional environment ideal for small to medium-sized businesses seeking convenience and connectivity. The office features a wide window frontage that allows abundant natural light, creating a bright and inviting atmosphere. Air conditioning ensures year-round comfort, while a dedicated tea room and access to shared restroom facilities add to the practicality of the space. Located within walking distance of major transport links, including Central Station, the bus interchange, and the upcoming light rail, the property offers exceptional accessibility for staff and clients alike. Positioned in a vibrant commercial and lifestyle precinct, tenants will benefit from proximity to an array of cafes, restaurants, and retail amenities. This location combines workplace efficiency with the energy of one of Sydney’s most dynamic inner-city neighborhoods, making it an attractive choice for businesses prioritizing both functionality and convenience.

Space Size Space Use Build-Out Available
Ground 1,507 SF Retail - Now
1st Floor 2,368 SF Office Full Build-Out Now
2nd Floor 2,368 SF Office Full Build-Out Now
3rd Fl-Ste 3A 538 SF Office Partial Build-Out Now
3rd Fl-Ste 3B 753 SF Office Partial Build-Out Now

Ground

Size
1,507 SF
Space Use
Retail
Build-Out
-
Available
Now

1st Floor

Size
2,368 SF
Space Use
Office
Build-Out
Full Build-Out
Available
Now

2nd Floor

Size
2,368 SF
Space Use
Office
Build-Out
Full Build-Out
Available
Now

3rd Fl-Ste 3A

Size
538 SF
Space Use
Office
Build-Out
Partial Build-Out
Available
Now

3rd Fl-Ste 3B

Size
753 SF
Space Use
Office
Build-Out
Partial Build-Out
Available
Now

Ground

Size 1,507 SF
Space Use Retail
Build-Out -
Available Now

This boutique office and retail opportunity offers a versatile layout in a highly sought-after Elizabeth Street location. The property features a ground-floor retail or showroom area complemented by a mezzanine office level, providing flexibility for a range of business uses. High ceilings and an open design create a bright, spacious environment, while air-conditioning ensures year-round comfort. Positioned slightly set back from the street, the property benefits from a front courtyard area that enhances visibility and provides an inviting entry point for customers or clients. The location offers strong connectivity to surrounding retail, dining, and business amenities, making it an attractive choice for operators seeking a central and accessible address. On-site parking is available at an additional rate, adding convenience for staff and visitors. This property combines functionality with a prominent position, making it well-suited for businesses looking to establish a presence in a vibrant commercial corridor.

1st Floor

Size 2,368 SF
Space Use Office
Build-Out Full Build-Out
Available Now

This full-floor office opportunity offers a highly functional layout within a boutique security building, providing businesses with a professional and efficient workspace. The tenancy occupies the entire first floor and is accessed via a secure lift, ensuring privacy and convenience for staff and visitors. The interior features a quality fit-out that includes private offices, boardrooms, reception area, showrooms, and open-plan workstations, creating a versatile environment suitable for a range of business operations. Large windows on two sides of the floor deliver abundant natural light, enhancing the overall work atmosphere. Additional amenities include ducted air-conditioning for year-round comfort and a kitchenette for staff convenience. Located within a short walk to Central Station, the property offers excellent connectivity to public transport and easy access to surrounding amenities, including dining, retail, and business services. Security parking is available, adding further value for tenants seeking both accessibility and convenience.

2nd Floor

Size 2,368 SF
Space Use Office
Build-Out Full Build-Out
Available Now

This entire-floor office space offers a complete, high-quality fit-out within a boutique security building, providing an exceptional environment for professional operations. The tenancy includes multiple private offices, boardrooms, a welcoming reception area, showrooms, and workstations, all designed for functionality and efficiency. Ducted air-conditioning ensures comfort throughout, while large windows on two sides deliver abundant natural light, creating a bright and productive workspace. Access is seamless with a secure lift directly to the tenancy, complemented by security parking for added convenience. Positioned within walking distance of Central Station, the location offers excellent connectivity to public transport and proximity to a wide range of amenities, making it an attractive choice for businesses seeking accessibility and prestige.

3rd Fl-Ste 3A

Size 538 SF
Space Use Office
Build-Out Partial Build-Out
Available Now

This open-plan office space offers a functional and modern environment within a secure building, designed to meet the needs of today’s businesses. The tenancy benefits from expansive windows that flood the space with natural light, creating a bright and inviting atmosphere. High ceilings enhance the sense of openness, while air-conditioning ensures year-round comfort for staff and visitors. Conveniently located just a short walk from Central Station, the property provides excellent connectivity for commuters and clients alike. The surrounding area is vibrant, with an array of cafes, bars, and restaurants at your doorstep, offering ample options for dining and informal meetings. Onsite amenities include a kitchenette and private toilet facilities, adding convenience and practicality to the workspace. This location combines accessibility, functionality, and a dynamic neighborhood setting, making it an attractive choice for businesses seeking a well-appointed office in a central hub.

3rd Fl-Ste 3B

Size 753 SF
Space Use Office
Build-Out Partial Build-Out
Available Now

This 70 sqm open-plan office offers a functional and light-filled workspace in the heart of Surry Hills, just minutes from Sydney’s Central Station. Recently refreshed with new carpet and fresh paint, the suite provides a professional environment ideal for small to medium-sized businesses seeking convenience and connectivity. The office features a wide window frontage that allows abundant natural light, creating a bright and inviting atmosphere. Air conditioning ensures year-round comfort, while a dedicated tea room and access to shared restroom facilities add to the practicality of the space. Located within walking distance of major transport links, including Central Station, the bus interchange, and the upcoming light rail, the property offers exceptional accessibility for staff and clients alike. Positioned in a vibrant commercial and lifestyle precinct, tenants will benefit from proximity to an array of cafes, restaurants, and retail amenities. This location combines workplace efficiency with the energy of one of Sydney’s most dynamic inner-city neighborhoods, making it an attractive choice for businesses prioritizing both functionality and convenience.

  • Listing ID: 40138705

  • Date on Market: 4/14/2026

  • Last Updated:

  • Address: 491-493 Elizabeth St, Surry Hills, NSW 2010

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