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.
It was offered through estate agent Craig Pontey with four bidders after the opening $1.4 million bid.
- With the terrace (above and below) uninhabitable, the sale was the cheapest offering of the six, which kicked off in mid-August with a $1,911,000 sale.
- 11 Lower Fort Street set a new suburb terrace record, selling for $3.95 million at auction in mid-September.
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.