Millers Point sales program delivers over $500 million for social housing

The Millers Point sales program has reached a significant milestone, with over $500 million raised for investment in new social housing developments in NSW.

A total of 169 properties have been sold in Millers Point, totalling $512 million.

The milestone was reached today, with the auction of the last two properties of the 2017 Millers Point sales program.

The Stevens Buildings sold for $10.05 million, while 74-80 High Street sold for $9.80 million.

Property NSW CEO, Brett Newman, said proceeds from the sale of Millers Point properties will fund 1,500 new social housing dwellings across the State.

“To date, 734 new, fit-for-purpose social housing dwellings have been constructed in a number of areas including Liverpool, Parramatta, Sutherland, Wollongong and Fairfield,” Mr Newman said.

“Property NSW will continue to lead the sales of the remaining properties in 2018.”

Demand for Millers Point properties remained strong in 2017, with the sale of 44 properties for a combined total of $165 million.

Conservation Management Plans (CMPs) endorsed by the NSW Heritage Council are included in contracts for sale for all heritage listed properties. These contracts ensure new property owners are fully informed of their responsibilities when purchasing a heritage listed property.

Any maintenance or restoration on the properties must be in accordance with the CMPs.

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