The NSW government has entered a new phase in the sale of its social housing in Sydney's Millers Point.

The government has been selling the run-down CBD properties, and using the funds raised to build new social housing throughout the state.

Savills begins campaign to sell Sirius

On Thursday, Savills began its campaign to sell the historic Sirius building on behalf of the government.

Sirius is located on a 3,647sqm CBD site, and consists of 11 storeys, with 79 units of varying configurations, and 70 basement car spaces.

Most of the apartments in the building have spectacular harbour and city views, and, according to Savills, the rooftop has "by far Sydney’s most spectacular vantage point" with 360 degree views of the harbour, sweeping from the Opera House, to the Harbour Bridge, Circular Quay, the city, Barangaroo, Milsons Point, North Sydney, Pyrmont and Balmain.

Minister for Social Housing, Pru Goward, said the Sirius sale will enable the construction of hundreds of new social housing properties.

More than 700 new homes have already been built from the proceeds of the Millers Point sales to date, with a further 372 properties under construction.

“For each Millers Point property sold we are building close to five new homes,” Goward said.

“The legacy of this sale will be the hundreds of brand new homes built for our most vulnerable.

"I have met some of the tenants who have already moved into new homes across NSW and heard wonderful feedback," she said.

Simon Fenn, managing director of Savills NSW, said, “Sirius is positioned on some of the most valuable land in Australia and will certainly attract interest from around the globe."

Sirius is listed for sale with Fenn, Stuart Cox, Neil Cooke and Michael Simpson of Savills Australia, and will be marketed through an international campaign.

Minister for Planning Anthony Roberts said, "Any building proposed for the site would need to meet design excellence standards for its architectural, urban and landscape plans so that we can ensure we are creating a great place that fits well with the surrounding area.”

A registration of interest process is now open, to be followed by a formal expression of interest stage, which will lead into an invitation to tender for select applicants.

Savills expects to complete the sale of Sirius in the second half of 2018.

Click here to register your interest in Sirius.

McGrath sells its final tranche of historic Millers Point homes for more than $22 million

McGrath Estate Agents has sold its final tranche of historic homes in Sydney's Millers Point for $22,901,000.

Seven properties sold under the hammer, including 46-48 Argyle Place, a rare Colonial Georgian home on a large 358sqm block of land, which sold for $6.3 million.

McGrath has achieved a 100% auction clearance rate throughout the 3.5 year-compaign, during which it has sold 144 properties with a total value of $441.7 million.

McGrath Edgecliff agent Lorraine Crawford said there was a diverse range of buyers bidding for the latest tranche of properties, from investors to home owners, from young couples to downsizers.

Two buyers bid strongly for 46-48 Argyle Place, she said, reflecting the building's unique heritage significance and "the potential for it to be a grand home with parking on a large block in the beautiful suburb of Millers Point".

Crawford said she expects Millers Point to continue to enjoy solid growth, "with the ongoing development of Barangaroo Central, the new Metro line and the proposed walkway from High Street to Barangaroo ensuring the precinct remains sought after well into the future."

"We are also seeing many of our buyers who have purchased previously completing their renovations and moving in, which is having a positive effect and creating a real sense of community."

The properties McGrath auctioned achieved the following results:

• 46-48 Argyle Place, Millers Point - $6,300,000
• 70-72A High Street, Millers Point - $5,100,000
• 125 Kent Street, Millers Point - $3,030,000
• 88 Kent Street, Millers Point - $2,780,000
• 61 Windmill Street, Millers Point - $2,410,000
• 40 Merriman Street, Millers Point - $1,606,000
• 42 Merriman Street, Millers Point - $1,675,000

Read more about the NSW government's sale of Millers Point social housing:

NSW government again refuses protection for Sirius

Sydney's first apartment building for sale through Savills, Sotheby's

Next tranche of Millers Point public housing goes to market