McGrath Edgecliff agent Peter Starr said interest in the buildings was strong.
“Throughout the campaign 141 groups inquired on either the whole block or the four separate parts. After six weeks of marketing, ten parties made formal bids which proved the process to be both competitive and very satisfying. The result demonstrates the ongoing confidence in the future of Millers Point and the long-term capital growth anticipated.”
Commenting on the buyers, Mr Starr said “The purchasers are a well-known property group that have been rejuvenating apartment blocks throughout Sydney for over 30 years and have a wonderful vision for this majestic building. I cannot wait to see the creative outcome and how the heritage features will be highlighted.”
The three storey apartments housed wharf labourers, storemen, stevedores and gasworks hands who needed to live close to their place of employment. The apartments have had their fair share of public spotlight following controversy after some residents had to be forcibly evicted after refusing to leave their homes, many of whom had lived there for decades.
The Department of Housing says it has provided homes for elderly and vulnerable social housing residents of Millers Point and The Rocks to live in following the mass sell off of state-owned properties to public buyers.
The NSW Government has said the proceeds of the sale will be used for reinvestment in social housing across New South Wales.
The next tranche of government-owned Millers Point properties are now offered for sale and will be auctioned on Wednesday, 11 October 2017. The properties at 75 Windmill St and 85 Lower Fort St will be marketed by Lorraine Crawford, Peter Starr and Andrew Stewart of McGrath Edgecliff.
