Sydney’s first walk-up block of flats for sale in Millers Point

Two residential properties in the historic suburb of Millers Point, including Sydney’s first ever walk-up apartment building and an entire row of period terrace duplexes, will be sold through auction on December 14.

There is a price guide of $9 million to $9.5 million, which will be the second most expensive Millers Point disposal, after a block of 12 apartments at 44-48 Merriman Street and 56-62 Bettington Street sold for $12.3 million in 2016.

They are being sold off by Property NSW on behalf of Family and Community Services as part of the Millers Point sales programme to fund social housing. So far, the sales have delivered more than $467 million.

As of August, 655 new social housing dwellings have been completed and 422 dwellings are under construction, Property NSW said in a media release.

‘Stevens Buildings’ at 73 Windmill Street (picture above) is of architectural importance and is recognised by the NSW Trust as the first residential apartment building to be constructed in NSW.

Designed by renowned architect Joseph Alexander Kethel (1866-1946), the heritage building sits on a 1,802 sqm site and comprises 11 apartments (nine x one bedroom and two x two bedrooms) capturing views of the Sydney Harbour Bridge, Garrison Church and Observatory Hill.

It was built in 1900 as a boarding house on the site of the former ‘Live and Let Live Hotel’ and was the first walk-up block of flats in Sydney.

Some apartments offer dual aspect and flow through. All have open balconies with the ground floor with its own courtyard.

The other building, 74-80a High Street, comprises eight two-bedroom period terrace duplexes divided into two blocks each comprising four apartments on a 539 sqm island site. 74-80a High Street is expected to fetch about $8 million to $8.5 million.

The block is one of a group of early twentieth century workmen’s apartments built by the Sydney Harbour Trust in the early 1900’s.

There is scope to transform the apartments to their original condition, subject to Conservation Management Plan (CMP). The solid brick construction boasts deep verandahs, spacious kitchens, living and dining areas, with the first floor duplexes also comprising roof-top drying terraces with panoramic views across Barangaroo, Balmain and Darling Harbour.

Both addresses will be sold in one line (separately) via public auction through Robert Lowe and David Hickey of Savills Australia and Richard Shalhoub of Sotheby’s International Realty on behalf of Property NSW.

“This is a truly unique occasion for investors and developers alike to own a piece of Sydney’s rich heritage” said Robert Lowe of Savills.

Richard Shalhoub of Sotheby’s International Realty added that there was potential to transform the 1900’s historical masterpiece ‘Stevens Buildings’ into luxurious residences.

“There is actually tremendous scope to restore and transform both assets which are zoned as R1 General Residential, which will provide housing needs for the community and maintain the existing land use pattern of predominately residential use and we expect interest from both local and offshore investors and developers” he continued.

Separately, McGrath Estate Agents have also started marketing the following properties that are to be auctioned on December 6:

• 40 Merriman Street - one bedroom terrace
• 42 Merriman Street terrace - one bedroom terrace
• 125 Kent Street - four-bedroom terrace
• 46-48 Argyle Place - five-bedroom terrace
• 88 Kent Street terrace - four-bedroom terrace
• 61 Windmill Street terrace  - three-bedroom terrace
• 70-72 High Street - block of four apartments, each with 2 bedrooms