It was occupied by the EF International School from 1992, and was then the Sydney campus of Southern Cross University, both of which subsequently relocated to other locations.

It has historic significance, evoking a bustling period in Sydney's history, when Circular Quay was the centre of the international shipping trade, and wool was Australia's chief export.

It demonstrates the form and quality of the woolstore type that preceded the entrepreneurial display of wool in larger south-lit buildings.

[1] Ozanam House was listed on the New South Wales State Heritage Register on 2 April 1999 having satisfied the following criteria.

This building represents a distinctive period when Circular Quay was the centre of the international shipping trade, and wool was Australia's chief export.

It is historically important for its association with the St Vincent de Paul Society which occupied the building for forty years, including its use as a hostel in the 1950s.

[1] The place is important in demonstrating aesthetic characteristics and/or a high degree of creative or technical achievement in New South Wales.

The cathead beam structures and large hoist pulley that characterise the manual lifting of wool to the upper floors are significant.

Entering a hidden, basement bar via a former fire door to Loftus Lane will provide an intimate venue for tourists and locals alike".