Millers Point sales program enters the final phase
Property NSW, on behalf of Family and Community Services, today announced a further $20 million was raised from Millers Point sales as the program reaches the final stages.
The sale of three properties located on High Street; 22-28, 18-20 and 5-7, brings the total amount of funds raised to circa $570 million.
The final four properties on High Street will today launch to market. 2-4A, 6-8A, 14-16A and 34-36A each contain four two-bedroom apartments and will be marketed by McGrath Estate Agents. The properties will be sold at Auction on 27 June.
A total of 180 Government sales have occurred in Millers Point since 2014. It’s anticipated the sales program will be finalised by the end of the year with the sale of the remaining 11 properties.
Property NSW CEO Brett Newman said time was running out to purchase one of these historic properties.
“These properties continue to attract strong interest from local and international purchasers,” Mr Newman said.
“Importantly, Conservation Management Plans 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.”
The Millers Point sales program has successfully funded new, fit-for purpose social housing.
As of April 2018, a total of 936 units have been completed and 256 units are currently under construction as a result of the Millers Point sales.
Developments are concentrated in areas of identified need, particularly the Canterbury-Bankstown, Liverpool, Cumberland and Fairfield local government areas as well as Sydney, Sutherland and Wollongong. New social housing is also under construction in Coffs Harbour and Hawkesbury.
Sales strategies for the remaining properties in the Millers Point program will be unveiled over the coming months.
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