City of Sydney Buys Customs House

The City of Sydney has acquired the historic Customs House from from the Commonwealth Department of Finance for an undisclosed sum.

The 174-year old Circular Quay property, which remains Australia's oldest surviving customs building, was owned by the Commonwealth Department of Finance and under a 60-year lease to council.

The iconic Sydney landmark, which was home to Australian Customs between 1845 and 1990, acted as a gateway to Australia, welcoming goods and people through its doors.

The building has since become a mixed-use commercial property leased to retailers and office tenants as well as housing a library and exhibition space.

The building, which holds a net lettable 6,900sq m, has hosted Olympic live sites and Vivid light displays and, with its proximity to one of Sydney's busiest public transport hubs, has become a popular meeting place.

“Customs House is one of Australia's finest buildings and I'm delighted it will remain in public hands,” Lord Mayor Clover Moore said.

“We will now look at how we can improve the building to ensure it remains a valuable community asset for generations to come.”

Related: Mirvac Secures Heritage Approvals for $1bn Precinct

City Historian Dr Lisa Murray said the 174-year-old building served as the original gateway for imports into Sydney.

“The role of customs, powerfully symbolised by Customs House at Circular Quay, has always been a dual role of revenue raising through taxing trade, and protecting society from socially unacceptable goods, products, ideas and diseases,” Murray said.

“As late as 1924, customs tax still contributed more than 70 per cent of the nation's revenue, meaning Customs House played an enormous role in funding Australia during the early years of federation.”

A heritage home for Hub Australia

Customs House, which is home to tenants such as private equity group Champ Ventures, will welcome trendy co-workers looking to take advantage of the buildings location behind Circular Quay ferry terminal, wedged between the Opera House and the Harbour Bridge.

Co-working provider Hub Australia will in August open its seventh site nationally, on levels three and four of Customs House.

The 2,341sq m space is half the size of Hub's existing location in Hyde Park, but seeks to tap into the market of small businesses and branch offices of international companies looking for high-end work spaces in the CBD.

The company has also since closed its original location in Melbourne's Donkey Wheel House on Bourke Street, which started off with 600 square metres and subsequently expanded to 1000 square metres.