McGrath secure Millers Point sales stranglehold

Government Property NSW today announced the appointment of McGrath Estate Agents as the exclusive sales agent for the next phase of the Government’s Millers Point terrace sales program.

The appointment will see McGrath market the sale of up to 50 Government-owned terrace properties to June 2016.

The appointment of McGrath followed a select tender issued to pre-qualified agents on the Government’s Real Estate Agents Panel, and complied with NSW Government procurement guidelines.

The first tranche of Millers Point properties for 2016 will list on 27 January. 

To date there have been 47 Government-owned properties sold in Millers Point, raising more than $116 million for social housing.

A corner Victorian-era terrace fetching $6.67 million was sold late last year by McGrath. 

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.

McGrath boss John McGrath signalled he liked the precinct's prospects last year.