Life in Pyrmont was not always easy. In fact, life was hard and tough for most workers in the quarries, sugar refineries, refuse incinerator of the old days. Pyrmont was a heavily polluted industrial suburb in Sydney with a small local population mostly in the low social economic bracket.
Pyrmont underwent boundary changes with nearby suburbs, shaped and reshaped with town planning changes – many buildings and streets come and go, few are left standing to tell the tale.
Today, Pyrmont is one of the most expensive suburbs in Sydney. It’s residential, entertainment and lifestyle precincts around Jackson’s Landing, Jones’ Bay, Darling Harbour, Sydney Casino and business hubs right next to the heard of CBD.
Our beloved building is one such lucky survivor. The Schute, Bell, Badgery and Lumby Wool Store was constructed in 1910, with additions in 1914, 1926, 1934 and 1941. A reasonably intact example of the Federation Warehouse style of architecture. It was used as wool storage from the time of its construction up until the 1970s when it was purchased by City Leasing Pty Ltd.
City Leasing Pty Ltd is owned by the reclusive Wakil family, its office occupied part of the building. From the 1970s to the present, the building is used predominantly for offices. The site was sold to the present owner in 2015 for a reported sum of $90m. Today, the building’s commercial value is estimated in excessive of $300m.