Property NSW managed the sale of former government-owned social housing properties in Millers Point, on behalf of Family and Community Services (FACS). $608 million was raised from the sale of 189 properties in Millers Point, delivering a significant boost for social housing across the State.
The sales included small workers cottages, grand Edwardian terraces, stately homes and whole apartment blocks. The highest value single property sold was a block of 33 apartments on Lower Fort Street, which sold for $26 million in September 2017.
Proceeds of sale are reinvested into the supply of over 1,500 new social housing dwellings across Sydney and regional NSW.
As of December 2018, a total of 1,186 units have been completed and 309 units are currently under construction as a result of the Millers Point sales.
Millers Point has one of the richest cultural and architectural histories in Sydney, with picturesque heritage buildings and historical landmarks. Most of the Millers Point properties now being offered for sale retain a remarkable level of original and intact building fabric, form and architectural detailing and finishes. Together and individually they are a rare and potentially unique heritage resource in Australia.
All purchasers of properties in the Millers Point are required to adhere to NSW Heritage Council-endorsed Conservation Management Plans (CMPs), which set out in extensive detail the purchaser’s heritage maintenance obligations.
For further information visit www.rediscovermillerspoint.com