Next tranche of Millers Point public housing goes to market with McGrath
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Sep 22, 2017
Next tranche of Millers Point public housing goes to market with McGrath
The state government's public housing sell-off in Millers Point has raised more than $420 million to build new public housing around the state.
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Image: The property at 85 Lower Ford Street (left) is expected to sell for between $2.5 million and $2.7 million. -
30 Kent Street, Millers Point, NSW, which McGrath has given a price guide of $2,500,000 - $2,700,000. -
Property at 5 Windmill Street, Millers Point, price guide $2,000,000 - $2,200,000. -
The view from 5 Windmill Street, Millers Point, price guide $2,000,000 - $2,200,000. -
The view from 63 Kent Street, Millers Point. The property is expected to sell for between $2.3 million and $2.5 million. -
McGrath sold the historic Workers Dwellings building in Millers Point for $26 million.
McGrath sold the historic Workers Dwellings building in Millers Point for $26 million, and will take the next tranche of former housing commission properties to auction on 11 October.
Proceeds from the sales will go towards building new public housing around New South Wales.
The Workers Dwellings were built by the Sydney Harbour Trust in 1910, and consist of four buildings containing 33 apartments. The apartments were to be sold in one line or in four blocks.
Image: 30 Kent Street, Millers Point, NSW, which McGrath has given a price guide of $2,500,000 - $2,700,000.
Peter Starr, agent with McGrath Edgecliff said, "Interest in the buildings was very strong. Throughout the campaign, 141 groups inquired on either the whole block or the four separate parts.
"After six weeks of marketing, ten parties made formal bids."
The purchasers are reported to be Smarta Property, who will turn the apartments into luxury home.
"The purchasers are a well-known property group that have been rejuvenating apartment blocks throughout Sydney for over 30 years and have a wonderful vision for this majestic building. I cannot wait to see the creative outcome and how the heritage features will be highlighted," said Starr.
The next tranche of Millers Point housing commission properties will be auctioned on Wednesday, 11 October 2017, and will be marketed by Lorraine Crawford, Peter Starr, and Andrew Stewart of McGrath Edgecliff.
“I anticipate strong interest, with 75 Windmill Street and 85 Lower Fort Street expected to be in very high demand. The two properties are standout residences and do not form part of a row of similar terraces," said Crawford.
The property at 85 Lower Fort Street is a freestanding, three-level Victorian home built in 1882. Number 75 Windmill Street is a two level, 1832-built Victorian terrace.
Read more about the sale of former public housing at Millers Point:
The changing face of Millers Point
McGrath takes 33 Millers Point apartments to market
Brand ‘Barangaroo’ tops the list for international investors
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