The building is a commercial office property consisting of four floors spanning 10,000 square metres, with basement parking and two ground floor retail suites.
The site has mixed zoning and would be suitable for a variety of commercial and residential uses.
AMP Capital Wholesale Office Fund Manager Nick McGrath said he was pleased with the outcome for the fund’s investors.
“We are very pleased with the sale of 495 Harris Street, Ultimo, which delivers upon the fund’s strategy to divest smaller, non-core assets,” said Mr McGrath.
“This transaction allows us to capitalise on the current high demand for buildings with mixed-use zoning and redeploy the proceeds into well-located, higher quality core office assets with strong leasing covenants,” he said.
