A row of seven terraces in Mary Ann Street built nearly 150 years ago and a cottage in Hackett Lane, Ultimo are going on sale to raise funds for affordable housing near the city.
Set in a leafy, heritage-rich urban precinct on the edge of Sydney city, each of the spacious Victorian terraces have the potential to be an ideal investment or renovation opportunity.
Darling Harbour and universities are a short walk away.
"The properties were purchased over 20 years ago and no longer meet the demand for affordable rental housing required close to the CBD," said Janelle Goulding, CEO of City West Housing, which is focused on budget homes.
Selling agent Peter Gordon of Cobden & Hayson will auction the homes on October 29.
The nearly 30 residents of these houses have been relocated to newer accommodation in nearby areas and the funds from the sale would be used to build homes for up to 100 people in the city, said Goulding.
City West Housing is a not-for-profit affordable housing developer in Australia, and in the last 20 years has built more than 650 homes for nearly 1,400 people.
“This is the first time that these historic properties have been offered individually for sale and we are confident they will be very popular with owner occupiers, builders and investors alike. They are very substantial properties with terrific upside and it’s a very exciting location in terms of amenity, future growth potential, lifestyle and history,” said Peter Gordon.
