Property NSW to Sell Two Historic Residential Assets

14 November 2017

Property NSW, on behalf of Family and Community Services, is set to sell two historic residential assets in Millers Point including Sydney’s first ever walk-up apartment building and an entire row of period terrace duplexes, just moments from the Sydney CBD, Circular Quay and The Rocks.

‘Stevens Buildings’, located at 73 Windmill Street is an architectural masterpiece prestigiously recognised by the NSW Trust as being the first residential apartment building to be constructed in NSW.

Designed by renowned architect Joseph Alexander Kethel (1866-1946), the heritage building sits on a 306sq m site and comprises 11 apartments (nine x 1 bedroom and two x 2 bedrooms) capturing views of the Sydney Harbour Bridge, Garrison Church and Observatory Hill. Some apartments offer dual aspect and flow through and all apartments offer open balconies and the ground floor has its own courtyard.

74-80a High Street comprises eight x 2 bedroom period terrace duplexes divided into two blocks each comprising four apartments on a large 539.94sq m island site. There is vast potential to restore and transform the apartments to their original condition, subject to Conservation Management Plan (CMP). The solid brick construction boasts deep verandahs, spacious kitchens, living and dining areas, with the first floor duplexes also comprising roof-top drying terraces with panoramic views across Barangaroo, Balmain and Darling Harbour.

Both addresses will be sold in one line (separately) via public auction through Robert Lowe and David Hickey of Savills Australia and Richard Shalhoub of Sotheby’s International Realty on behalf of Property NSW.

According to Robert Lowe, Savills Director of Metropolitan & Regional Sales, these assets are prestigiously located within Millers Point, one of Sydney’s most sought after inner city suburbs, boasting spectacular views across Sydney harbour.

“Very rarely does an opportunity arise to purchase an entire row of residential apartments/ duplexes which comprise an island block in the case of 74-80a High Street, just moments from the Sydney Harbour foreshore and adjacent to Barangaroo.

“This is a truly unique occasion for investors and developers alike to own a piece of Sydney’s rich heritage,” he said.

According to Richard Shalhoub of Sotheby’s International Realty, “There is potential to transform the wonderful 1900’s historical masterpiece that is ‘Stevens Buildings’ into luxurious residences, prominently situated in one of the most coveted streets in Millers Point.

“There is actually tremendous scope to restore and transform both assets which are zoned as R1 General Residential, which will provide housing needs for the community and maintain the existing land use pattern of predominately residential use and we expect interest from both local and offshore investors and developers,” he continued.

73 Windmill Street and 74-80A High Street, Millers Point will both be sold at auction through Savills Australia and Sotherby’s International Realty on Thursday 14 December 2017 at 10.30am.

 
 

Key Contacts

Robert Lowe

Robert Lowe

Director
Metropolitan & Regional Sales

Savills Sydney

+61 (0) 2 8215 8841

 

David Hickey

David Hickey

Sales Executive
Metropolitan & Regional Sales

Savills Sydney

+61 (0) 2 8215 6074