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Three Millers Point properties fetch $6.8m at auction

Last published on 04 Dec 2014 in Media releases / Archive

Minister for Family and Community Services, Gabrielle Upton, and Minister for Finance and Services, Dominic Perrottet, today announced the sale of three more government-owned property at Millers Point for $6.8 million.

Minister for Family and Community Services, Gabrielle Upton, and Minister for Finance and Services, Dominic Perrottet, today announced the sale of three more government-owned property at Millers Point for $6.8 million.

"Three Georgian-style terrace properties at 24, 28 and 32 Argyle Place sold at auction with each property fetching $2.30 million, $2.35 million and $2.15 million respectively," Ms Upton said.

"All properties are three levels, with 24 and 32 featuring two bedrooms and number 28 with four bedrooms.

"The NSW Government is proceeding with plans to sell the remaining 284 properties so funds can be reinvested back into the public housing system.

"There’s been a strong market response to the release of the government-owned properties in Millers Point with a total of $21.9 million raised so far from nine sales.

"It is simply not sustainable for the tax payers of NSW to maintain these properties for a select few while elsewhere throughout the State there are tens of thousands left waiting for a roof over their heads.

"By selling properties in Millers Point the Government is taking the necessary action to deliver more social housing across the State and help reduce the waiting list.”

Minister Perrottet said there continued to be a strong interest in properties in the historic Millers Point precinct.

"Investors are acknowledging the value of the precinct, which includes some of Australia's oldest surviving properties," Mr Perrottet said.

"The precinct is in a prime location close to Circular Quay, near restaurants and cafes and only a short walk to the CBD."

Three more properties have been listed for sale in December. .

47 Kent Street will be auctioned on 15 December, while 41 and 43 Kent Street will be auctioned on 16 December.

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