A block of four two-bedroom Millers Point apartments was sold at auction for $5.5 million, $1 million higher than expected.

CEO of Government Property NSW, Brett Newman, said “Highly competitive bidding was always expected for the freehold block on Munn Street, given its exceptional location.

“The property is situated in one of the most sought after areas of Millers Point with panoramic views across Barangaroo and towards Balmain,” he said.

A total of 39 government-owned properties have been sold to date, adding more than $92 million to state government coffers. The funds have been earmarked for the construction of much-needed new social housing.

It’s expected that 1,500 new social housing dwellings will be built across the state with the funds, with new dwellings already constructed at Condell Park, Padstow, Yagoona, Gymea, Lunea, Chester Hill, Kingswood, Mount Warrigal, Beverly Hills, Warilla, Casula and Miranda.

Another eight historic Millers Point properties have been listed for sale, and will be auctioned by McGrath Estate Agents on 3 December.

A highlight is a four-storey Victorian terrace built in the 1870s, and part of the Milton Terrace row. The grand terrace sits at the end of Dawes Point promontory at 1 Lower Fort Street, and has jaw-dropping views of Sydney Harbour.

Other properties listed are:

• three terraces in the 1870-built Davies Terrace row, at 28 Merriman Street (three bedrooms), 36 Merriman Street (two bedrooms), and 38 Merriman Street (three bedrooms),
• a three-bedroom terrace at 36 Kent  Street,
• a four-bedroom sandstone terrace at 55 Kent Street,
• a three-bedroom terrace at 59 Kent Street, and
• a four-bedroom terrace at 71 Windmill Street.