The second Millers Point offering fetches $2.56 million for state government housing

An 1834 four level Millers Point dwelling in the Colonial Regency style fetched $2.56 million at auction tonight.

Offered for the first time in over a century, 29 Lower Fort Street, was sold at auction by the NSW state government. 

The five-bedroom heritage listed townhouse (see plan below) with a 6.5 metre frontage has extensive views of Sydney Harbour.

Requests by Property Observer for the price guidance provided to buyers were not met prior to publication by the office of Dominic Perrottet, the Minister for Finance and Services.

The onthehouse website gave a $1.89 million to $2.01 million estimate in May for tonight's 169 square metre offering.

The adjoining terrace - on 147 square metres - sold as leasehold in 2009 at $1.025 million.

It followed last week’s sale of a property for $1.91 million on Kent Street (pictured top above) with Walsh Bay water views at well over price guidance.

The first offer was on a 109 square metre holding.

“All proceeds from sales will go straight back into maintenance and building contemporary social housing that is so urgently needed," the Minister for Family and Community Services, Gabrielle Upton said.

There are currently three other properties on the market as part of the Government’s first tranche of freehold sales in the Millers Point precinct. 

"The real estate agent had more than 200 prospective buyers inspected the premises with more than 60 pre-auction contracts issued.

The initial sales in Millers Point are setting the freehold market, as the prior sales campaign begun by the Labor government in 2009 offered property on 99 year leaseholds.

Protesters to the relocation of housing department tenants again were refused admittance to the auction.