11/05/2018 | Press release | Distributed by Public on 11/04/2018 20:10
Property NSW, on behalf of Family and Community Services, today announced the sale of the final two heritage-listed terraces in the Millers Point sale program.
CEO of Property NSW, Brett Newman, said the auction of these properties marks the end of the Millers Point terrace sale program, which commenced in 2014.
'The Government has completed the Millers Point sales program, with the sale of the final two government-owned properties,' Mr Newman said.
'We've now sold over 189 properties, yielding more than $608 million for new social housing across the State.
'Our sale program has capitalised on the booming Sydney property market in recent years, and despite recent headwinds felt across the residential property market, demand for these properties has been strong given their prime location.'
The final two terraces were sold at auction by McGrath Estate Agents.
69 Lower Fort Street, forming part of Eagleton Terrace, is a four level, three-bedroom late 19th century terrace with rear views over Walsh Bay. The terrace sold for $3.051 million.
65 Lower Fort Street, forming part of Vermont Terrace is an early federation 'Queen Anne' style, brick terrace with three bedrooms. The terrace sold for $2.71 million.
As of September 2018, a total of 1,121 residential units for social housing had been completed and a further 260 residential units were under construction using proceeds from the Millers Point sales program.
Developments are concentrated in areas of identified need, particularly the Canterbury-Bankstown, Liverpool, Cumberland and Fairfield local government areas as well as Sydney, Hawkesbury, Sutherland and Wollongong.
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