Public housing sales fill government coffers

Public housing sales in Sydney’s Millers Point continue to attract buyers with $12.7m collected by the NSW government.

Flo Seckold was forced to leave her home in Argyle Street, Millers Point. Picture: John Appleyard

residential: Controversial public housing sales in Sydney’s Millers Point continue to attract buyers — whether owner-occupiers or investors — with $12.765 million tipped into the NSW government’s coffers from a recent public auction.

A trophy seven-bedroom mansion at 69 Windmill Street, originally built as a hotel, attracted the top price of $4.805m. Licensed until 1923, and operated as a migrant hostel, the heritage building now sports five residential apartments but could be restored into a mansion.

Two side-by-side terraces at 14-16 Trinity Avenue sold for a combined price of $3m with each featuring four bedrooms and two bathrooms at the public auction. An 1874 Victorian terrace with three bedrooms and one bathroom at 52 Kent Street fetched $2.6m.

A 1907 terrace with three bedrooms near Barangaroo Reserve at 1 Windmill Street sold for $2.36m to a Chinese buyer.

McGrath Edgecliff agent Lorraine Crawford said the Millers Point market continued to attract healthy bidding on all properties with McGrath agents Peter Starr and Andrew Stewart also involved in the sales campaign.

“With Barangaroo now a reality, we believe Millers Point is prime for further growth, as reflected in the strength of buyer interest,” Ms Crawford said.

The NSW government has pocketed more than $380m for the sale of the housing commission terraces on the edge of the CBD.

Local, interstate and international investors recently swooped on five blocks in High Street, Millers Point, each with four two-bedroom apartments, following an expression of interest campaign through McGrath. Sale prices ranged from $4.9m to $5.31m.