Investor secures heritage Millers Point terrace on third attempt

An investor who'd missed out on two prior Millers Point offerings paid $2.27 million when the fifth terrace was offloaded by the state government at Millers Point.

Fairfax Media advised those who inspected 86 Windmill Street had $1.5 million to $1.6 million price guidance prior to last night's auction. 

The Di Jones sales agents received more than 1370 enquiries, conducted around 200 property inspections and issued over 70 pre-auction contracts.

The heritage-listed three-bedroom terrace backs onto The Paddock park. 

The three-level, three-bedroom property was one of three houses constructed by the Musgrave family in about 1856 to 1861.

Minister for Family and Community Services, Gabrielle Upton noted continued strong interest in Millers Point property sales saw the 86 Windmill Street residence take the total proceeds of five property sales to more than $13.3 million.

Gabrielle Upton said the NSW Government had inherited a social housing system that was "unfair and unsustainable."

“The sale of properties in Millers Point reflects the Government’s resolve to put the social housing system back on solid financial ground,” Ms Upton said.

“Money from the sale of government-owned properties will go back into the public housing system into things like new homes and maintenance.”

“The strong sales results will mean more money can be poured back into helping people especially the 58 000 applicants on the public housing waiting list.”

There is still one property remaining as part of the initial tranche, 30 Argyle Place, which is due to go for auction on October 8 through Ray White agent Craig Pontey.