McGrath to sell 24 Millers Point properties after winning NSW tender

McGrath Estate Agents has been appointed by Property NSW as the exclusive agent to market the sale of a further 24 properties as part of the next phase of the Millers Point program.

The appointment followed a tender process in accordance with NSW Government procurement guidelines.

McGrath was first engaged by Property NSW in 2014, before being appointed as the exclusive agent to market the sale of up to 50 Millers Point properties in January 2016.

In May the company was again appointed as the exclusive agent for the sale of a further 175 dwellings.

McGrath's Kon Stathopoulos said the company has now sold 91 properties achieving a total value of $282 million as part of the Millers Point Sales Program.

He said that some buyers were already seeing a strong return on their investment. “The first property to be sold in August 2014 was 119 Kent Street for $1.911 million and has since resold for $2.52 million in June 2015.

“We are delighted to have been awarded the next tranche of properties to be delivered under this program.

"To date we have achieved a 100 percent clearance rate which is reflective of the continued demand for quality properties in the Millers Point precinct. We look forward to continuing our strong partnership with Property NSW through the successful delivery of tranche six,” said Mr Stathopoulos.

The marketing of the initial four terraces in the latest tranche has commenced, with an auction date scheduled for November 30.

The properties will be marketed by Lorraine Crawford, Peter Starr and Andrew Stewart of McGrath Edgecliff.

15 Lower Fort Street, Millers Point (pictured above): $4.5M - $4.7M

36 Argyle Place, Millers Point: $3M - $3.3M

66 Bettington Street, Millers Point: $2M - $2.2M

61 Kent Street, Millers Point: $1.8M - $1.98M