Millers Point terrace proceeds top $15 million after sixth state government auction

Millers Point terrace proceeds top $15 million after sixth state government auction
Millers Point terrace proceeds top $15 million after sixth state government auction

The auction sale of the sixth government-owned property at Millers Point secured $1.71 million at its Ray White Double Bay auction tonight.

The three-level, three-bedroom Georgian terrace property at 30 Argyle Place was built in 1846 for local publican, William Cole.

  • 30 Argyle Place, Millers Point, NSW

It was offered through estate agent Craig Pontey with four bidders after the opening $1.4 million bid.

The Family and Community Services Minister Gabrielle Upton, and Finance and Services Minister, Dominic Perrottet, advised the continued strong interest in Millers Point property listings had taken the total proceeds of six property sales to $15 million.

“So far, the pilot sales program has been incredibly successful in delivering much-needed funds to re-invest back into public housing stock across NSW,” Ms Upton said.

“It is estimated that approximately $100 million of public money would be required to restore and maintain the heritage fabric of the entire Millers Point portfolio over the next 15 years.

“But now with the injection of private investment from property buyers, the future for Millers Point is optimistic," she said. 

The NSW Government is committed to divesting the remaining 287 government-owned properties in the precinct over the next two years.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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