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A top network has set a massive new auction record in Sydney’s historic Millers Point.
McGrath Estate Agents sold the latest tranche of government-owned Millers Point properties on Wednesday night for a record total of $35.22 million.
Four terrace homes, two blocks of four two-bedroom apartments and one block of 12 one-bedroom apartments sold to a packed room of eager buyers.
The properties bring the number of Millers Point properties sold by the agency to 102 at a total value of over $325 million as part of the Millers Point sale program.
“[The] auction was standing room only and our most successful to date in our Millers Point sales program. We have maintained McGrath’s 100 per cent auction clearance rate which is a testament to the hard work and tenacity of the entire sales team,” McGrath head of company sales, Kon Stathopoulos, said.
The results reflect the continuing strong demand for property in the area and the eagerness of buyers to own a slice of the booming Sydney property market.
“We saw healthy bidding on all properties on offer. It was pleasing to see several of the properties selling to families with young children which demonstrates that the buyer profile is now showing real diversity,” McGrath Edgecliff agent, Lorraine Crawford, said.
“Apartment buildings appealed to investors who also see good growth opportunities as this area is fast evolving to be one of the city’s most exciting precincts.
“Its close proximity to the CBD and lifestyle precincts of Barangaroo, Walsh Bay and The Rocks area appeal to a wide selection of buyers.”
The best results on the night were the sale of 42-44 and 46-48 High Street, two blocks of four two-bedroom apartments which sold for $4.81 million and $4.82 million.
More Millers Point properties will be sold through McGrath in early 2017 and similarly impressive results are expected.
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