FACS banks Millers Point sales

The first homes built from the proceeds of Millers Point public housing have been unveiled by the Minister for Family and Community Services, Brad Hazzard.

 

The Minister said a separate bank account had been established for the Millers Point proceeds and the account of sales and capital outlays on new dwellings will be reported in the Family and Community Services (FACS) annual report.

"The projected proceeds from the Millers Point property sales, expected to be about $500 million - will be re-invested into some 1,500 new social housing dwellings, allowing more people on the waiting list to be housed faster," Mr Hazzard said.

First homes built from proceeds

"Developments will occur in areas of identified need for more social housing." The initial phase will focus on Sydney's south-east and south-west and the Illawarra-Shoalhaven area and Nepean-Blue Mountains areas.

Speaking during a site visit to Lurnea where 10 new two-bedroom dwellings for seniors are nearing completion, Mr Hazzard said the sales proceeds and savings in maintenance were vital to the supply of new and additional housing.

"Here at Lurnea and in another 11 suburbs, construction is under way on 99 new dwellings which include easily-maintainable one and two-bedroom units designed for singles and the elderly and three-bedroom homes for families," he said.

Mr Hazzard said 12 Millers Point properties had been sold, generating $26.8 million and a further three properties were now on the market.

"The Government will sell 293 properties in Millers Point to help finance a more sustainable public housing system," he said.

The Minister said new housing funded by the proceeds was under way in Condell Park, Padstow, Warilla, Mount Warrigal, Chester Hill, Yagoona, Gymea, Kingswood, Casula, Beverly Hills and Miranda.

#‎savemillerspoint‬ 

RESOURCED: http://www.psnews.com.au/nsw/Page_NSWpsn4096.html 

Millers Point state government terrace sell-off resumes post-election

Jonathan Chancellor | 21 April 2015

Three more surplus government-owned property at Millers Point have been listed.

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They are all on Kent Street including 51 Kent Street (pictured above), which is an 1855 terrace.

The Georgian-style terrace is listed for 14 May auction through Peter Starr at McGrath Estate Agents.
The terraces at 39 and 49 Kent Street are also for sale. The 39 Kent Street was built for solicitor/politician Sir George Wigram Allen

The 47 Kent Street was auctioned last year at $1.64 million.

Properties sold late last year included 24, 28 and 32 Argyle Place fetching $2.3 million, $2.35 million and $2.15 million respectively.

The NSW government is proceeding with plans to sell the remaining 284 properties so funds can be reinvested back into the public housing system.

The government-owned properties in Millers Point secured a total of $21.9 million from the initial nine sales.
















RESOURCED: http://www.propertyobserver.com.au/finding/location/nsw/42063-millers-point-state-government-terrace-sell-off-resumes-post-election.html 

Millers Point homestead to fetch $4 million

Grimes Cottage at 50 Argyle Place is a Colonial Georgian freestanding home with six bedrooms, north-facing gardens, a self-contained studio flat and views of the Harbour Bridge and The Rocks from a sprawling verandah at the rear. 

Located less than 10 minutes walk to the CBD and set across 416 square metres, the 1830s home is regarded as a jewel within a portfolio of social housing in the area now being offloaded for private ownership.

The controversial sales campaign, which is expected to generate more than $500 million for new housing projects outside the city, has been criticised as a backflip on goals of social integration and for uprooting elderly residents and families who have been in the area for decades.

Despite a fiercely fought campaign by residents and high profile supporters including Lord Mayor Clover Moore, activist Jack Mundey and artist Dare Jennings, the sell-off has progressed and raised more than $27 million to date from the sale of 12 homes - averaging $2.2 million each.  

Grimes Cottage is one in a slab of four terraces that are the latest to come to market this month, and one of just two freestanding homes within the Government's Millers Point portfolio.

McGrath agent Richard Shalhoub holds the listing. 

"It offers scope to restore a charming cottage into a substantial six bedroom family home in a historic Harbour front precinct," the agent said.

in early April that some of the proceeds from Millers Point sales will go to building 10 public housing units at Lurnea, in Sydney's south-west.

Units in the $2.8 million complex are among about 1500 new public housing dwellings built from the proceeds of the controversial sale, which is expected to reap upwards of $500 million.

According to the Government, every Millers Point property sold can fund the construction of five properties elsewhere.

 

RESOURCED: RESOURCED: http://www.afr.com/real-estate/millers-point-homestead-to-fetch-4-million-20150421-1mp8eh