Quick flip profits sought for 119 Kent Street, Millers Point former state government offering

Quick flip profits sought for 119 Kent Street, Millers Point former state government offering
Jonathan ChancellorDecember 7, 2020

From social housing to speculators. 

The first government-sold heritage terrace at Millers Point that fetched $1,911,000 just 10 months ago is back for sale.

The 1880s terrace was the first of scheduled 293 public housing properties to be sold off by Government Property NSW in August last year.

The then rundown four-bedroom heritage-listed home had been vacant since early 2011 with the last public housing tenant paying $77.20 a week rent at the property which has water views over Walsh Bay.

The relisted 119 Kent Street, Millers Point home sits on a 109 sq m block with no parking.

The house has original fireplaces and floorboards, 3.25m high ceilings and a sandstone-walled sunlit courtyard.

It is marketed by Harriett France a Sotheby's as "recently refreshed with new kitchens and bathrooms - scope for further improvement."

Around $2.5 million is expected by the Sfeir family.

The controversial sell off, which has resulted in the relocation of public housing tenants, is tipped to set off a major gentrification in the historic suburb.

The state government has created a website to sell the virtues.

 

 

 

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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