Ultimo is an inner-city suburb of Sydney, New South Wales, Australia. It is adjacent to the Sydney central business district in the local government area of the City of Sydney west of the Darling Harbour area, and is bordered by Pyrmont to the north, the Sydney CBD and Chinatown/Haymarket to the east, Broadway and Chippendale to the south, and Glebe and Wentworth Park to the west.

The Sydney central business district (CBD) is the historical and main commercial centre of Sydney. The CBD is Sydney's city centre, or Sydney City, and the two terms are used interchangeably. Colloquially, the CBD or city centre is often referred to simply as "Town" or "the City". The Sydney city centre extends southwards for about 3 km (2 mi) from Sydney Cove, the point of first European settlement in which the Sydney region was initially established.