The $12.5 Million Old Power Station!

10 Apr 2025 · 2 min

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1:32

In this brief commentary, a local property advisor highlights a decommissioned electrical substation on Plunkett Street in Woolloomooloo that is being offered for $12.5 million. The advisor emphasizes the site’s exceptional location—adjacent to Sydney Harbour, the Domain, the CBD, and the Finger Wharf dining precinct—and notes that such centrally‑located, government‑owned parcels are extremely scarce. The piece frames the sale as a rare redevelopment opportunity for developers, creative enterprises, and hospitality operators, while also hinting at the uncertainty and excitement surrounding how the market will respond to the government’s decision to sell.

Chapters

Would you buy an old power station in Woolloomooloo? $12.5 million for an old electrical substation in Woolloomooloo. That's what's been quoted. Here's why it's causing a stir. Right on Plunkett Street, this decommissioned Substation sits on one of Sydney's most tightly held pockets, just moments from the harbour, the Domain, Sydney CBD, and the iconic Finger Wharf dining precinct. It's rare, it's raw, and ready For reinvention. As a local property advisor, I can tell you these sorts of opportunities almost never happen. However, the government in its wisdom is deciding to sell. So developers, creatives, hospitality operators, Bear watching. It's going to be interesting to see how it plays out.