McGrath Estate Agents Appointed For Millers Point Program

Property NSW today announced the appointment of McGrath Estate Agents as the exclusive sales agent for the next phase of the Millers Point program.

The appointment will see McGrath market the sale of 175 dwellings, including a diverse mix of lofts and apartments, blocks of units and other residences.

The appointment of McGrath followed a select tender issued to prequalified agents on the Government’s Real Estate Agents Panel, and complied with NSW Government procurement guidelines.

“The appointment of a single agent to undertake campaign marketing for a large number of properties of a similar target market is common market practice,” said Property NSW CEO, Brett Newman.

“A single agent delivers many benefits, including savings in advertising and marketing costs through an improved scale of activities, greater consistency when dealing with interested parties and the flexibility to alter the mix and timing of properties subject to market appetite.”

The appointment comes as the terrace sales program begins to wind down, with 10 properties due to go to auction on 8 June and only a small number of vacant terrace properties remaining.

In January, McGrath was appointed exclusive sales agent to market the sale of up to 50 Government-owned terraces.

To date there have been a total of 80 Millers Point properties sold, delivering more than $218 million for reinvestment into social housing.