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Second property sold in Millers Point

Last published on 26 Aug 2014 in Media releases / Archive

Minister for Family and Community Services, Gabrielle Upton and Minister for Finance and Services, Dominic Perrottet, today announced the second government-owned property at Millers Point, 29 Lower Fort Street, was sold at auction for $2.56 million.

Minister for Family and Community Services, Gabrielle Upton and Minister for Finance and Services, Dominic Perrottet, today announced the second government-owned property at Millers Point, 29 Lower Fort Street, was sold at auction for $2.56 million.

The five-bedroom heritage protected townhouse has extensive views of Sydney Harbour.

Minister Upton said the sales of properties in the harbour-side precinct would help to fund social housing across NSW.

“Tonight’s auction follows last week’s sale of a property for $1.91 million on Kent Street” Ms Upton said.

“All proceeds from sales will go straight back into maintenance and building contemporary social housing that is so urgently needed.

“On average, for every Millers Point property that is sold, we could build three more accessible and modern properties.

“And the new properties will be better suited and more comfortable for the elderly and families with special needs than in older Millers Point properties.

“The provision of new social housing, made possible through sales in Millers Point, will mean that more families in desperate need on the social housing waiting list can get secure, affordable housing.

“Every Millers Point tenant is being offered alternative accommodation in safer, more suitable properties and all reasonable costs of moving will be paid by the Government. More than 100 tenants have already chosen to move.

“There is a tenancy relocation service working with each tenant to determine their needs to ensure they are provided accommodation suited to their requirements and that they are satisfactorily re-established within their new community,” said Ms Upton.

Mr Perrottet said the second property to sell at 29 Lower Fort Street continued the strong interest from potential buyers in properties in the precinct.

“There are currently three other properties on the market as part of the Government’s first tranche of sales in the Millers Point precinct,” Mr Perrottet said.

“Millers Point is a unique historic precinct and it is continuing to capture the attention of the local property market.

"The real estate agent received strong interest for this property, with more than 200 prospective buyers inspecting the premises and more than 60 pre-auction contracts issued.

“These initial sales in Millers Point are an excellent test for the market and prove that there is a real desire to see this historic precinct restored and thriving.”

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