Millers Point heritage house sells for $4.23 million at private auction

Kirsten Craze  21st May 2015


Grimes’ Cottage in Millers Point has just earned the NSW Government a cool $4.23 million. Source: Supplied

              

           STATE Government coffers were further plumped by Sydney’s real estate boom tonight when an 185-year-old heritage home in Millers Point fetched $4.23 million at a private auction.         

PUBLIC HOUSING CRISIS: STRUGGLE STREET IN CENTRAL SYDNEY

NATIONAL TRUST SAYS SALE OF MILLERS POINT WILL DEVASTATE HERITAGE

It was sale number 16 in what will be a total of 293 former public housing residences to go under the hammer in a controversial sweeping inner city sell-off.

The balcony affords a view of the Harbour Bridge. Source: Supplied

“The ongoing auctions in Millers Point and The Rocks are part of the NSW Government’s initiative to sell government-owned heritage housing and reinvest proceeds into the supply of over 1500 new social housing dwellings across Sydney and regional NSW,” said Brett Newman, CEO of Government Property NSW.

 

“So far almost $38 million has been raised to fund new social housing projects in Lurnea, Condell Park, Padstow, Warilla, Mount Warrigal, Chester Hill, Yagoona, Gymea, Kingswood, Casula, Beverly Hills and Miranda,” he said.



The interior of the 185-year-old property which has been in public hands for more than a century. Source: Supplied

Grimes’ Cottage at 50 Argyle Pl in Millers Point, which is believed to be one of the oldest homes in Sydney, has achieved the highest price so far in the State’s sell-off.

 

“The high-spirited bidding for Grimes’ Cottage was not surprising, given the property
is one of only a few freestanding residences in the precinct,” Mr Newman said.
In September last year a large terrace at 11 Lower Fort St in Millers Point sold for $3.95 million.

The cottage being repainting in January 1960. Picture: National Trust of Australia (NSW) Source: Supplied

     Three properties on nearby Kent St sold last week for $1.725 million, $2.45 million and $2.54 million.

 

An important slice of Sydney’s colonial past, the rare freestanding cottage on a 416sq m block was built for whaling captain George Grimes in the 1830s.

After numerous owners in the 1800s, Grimes Cottage and surrounding houses were transferred to the NSW government during the outbreak of ­bubonic plague around 1900.
It then spent 112 years in public hands.



The back garden at 50 Argyle Pl. Source: Supplied

But as part of the latest sale, the property came with an iron-clad 200-page conservation management plan.

 

The buyer is banned from using the cobblestone side driveway as off-street parking, cannot make changes to the front or back facades, is restricted from building any additions to the property or even changing the external colour scheme.

Despite the strict rules, ­selling agents Richard Shaloub and Andrew Stewart of ­McGrath Estate Agents said the period property had attracted a lot of nationwide attention.


RESOURCED: http://www.dailytelegraph.com.au/news/nsw/millers-point-heritage-house-sells-for-423-million-at-private-auction/story-fni0cx12-1227364194986

 #‎savemillerspoint