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Fifth Millers Point property sells for $2.27M

Last published on 25 Sep 2014 in Media releases / Archive

Gabrielle Upton, and Minister for Finance and Services, Dominic Perrottet, today announced the auction sale of the fifth government-owned property at Millers Point for $2.27 million.

Minister for Family and Community Services, Gabrielle Upton, and Minister for Finance and Services, Dominic Perrottet, today announced the auction sale of the fifth government-owned property at Millers Point for $2.27 million.

Minister Upton said continued strong interest in Millers Point property sales saw the 86 Windmill St residence take the total proceeds of five property sales to more than $13.3 million.

The three-level, three-bedroom property at 86 Windmill Street is one of three houses constructed by the Musgrave family in about 1856 to 1861.

Minister Upton said the NSW Government inherited a social housing system that was unfair and unsustainable.

"The sale of properties in Millers Point reflects the Government’s resolve to put the social housing system back on solid financial ground," Ms Upton said.

"Money from the sale of government-owned properties will go back into the public housing system into things like new homes and maintenance."

"The strong sales results will mean more money can be poured back into helping people especially the 58 000 applicants on the public housing waiting list."

Minister for Finance and Services, Dominic Perrottet, said there continued to be high levels of buyer interest in the Millers Point precinct.

"Right throughout the initial sales program the market has continued to show keen interest in the historic precinct and this bodes well for future sales," Mr Perrottet said.

"For the property sold this evening, 86 Windmill Street, the sales agents, received more than 1370 enquiries, conducted around 200 property inspections and issued over 70 pre-auction contracts.

"There is still one property remaining as part of the initial tranche, 30 Argyle Place, which is due to go for auction on October 8."

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