Millers Point property sell-off sees $6.67 million corner terrace sale

Millers Point property sell-off sees $6.67 million corner terrace sale
Millers Point property sell-off sees $6.67 million corner terrace sale

Eight more NSW government-owned properties in Millers Point have been auctioned off, with a corner Victorian-era terrace fetching $6.67 million. 

1 Lower Fort Street, a four-storey terrace built circa 1879, forms part of the heritage significant Milton Terrace row.

The five-bedroom's price of $6.67 million was well beyond expectations of $4.5 million.

The property was sold through McGrath agents Lorraine Crawford and Peter Starr.

The price for the six-bedroom corner terrace at 1 Lower Fort St is almost double what was paid for a neighbouring house in the same row of terraces just over a year ago.

In October last year 11 Lower Fort St, another four level former public hosing building sold by the state government, fetched $3.95 million at auction.

The latest offering was marketed as a “once in a lifetime opportunity” with Sydney Harbour, Opera House and Harbour Bridge views. 

The head of Government Property NSW, Brett Newman, said proceeds from the Millers Point auctions were being reinvested into the supply of more than 1,500 new social housing dwellings across Sydney and regional NSW.

“To date there have been 47 government-owned properties sold in Millers Point, raising more than $116 million for much-needed social housing across the state,” he said.

New dwellings have been built in Condell Park, Padstow, Yagoona, Gymea, Lurnea, Chester Hill, Kingswood, Mount Warrigal, Beverly Hills, Warilla, Casula and Miranda.

Others sales have included: 

28 Merriman Street (three bedrooms) sold for $2.85 million

36 Merriman Street, (three bedrooms) sold for $2.885 million

38 Merriman Street (three bedrooms) sold for $2.7 million.

36 Kent Street, a three bedroom terrace, sold for $1.9 million.

55 Kent Street, a five bedroom sandstone terrace, sold for $2.95 million.

59 Kent Street, a three bedroom end terrace in the ‘Hexham Terrace’ row,

71 Windmill Street, a three bedroom terrace, sold for $1.885 million.

Tags: 
Terrace

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