National Nine News - Di Jones Real Estate Appointed for Millers Point Leases

Thursday, June 26, 2008

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Housing NSW today announced that Di Jones Real Estate of Woollahra in Sydney has been chosen to market the long-term leases on its prestigious, heritage-listed properties in Millers Point.

Di Jones Real Estate will run a domestic and international campaign to get 99-year leases signed for the vacant houses.All of the Millers Point buildings are in a conservation area and have state heritage significance for their historic, social and architectural importance.

There are 16 houses that will be progressively put on the market, ranging from a fully restored multi-bedroom terrace with water views, to terraces which are uninhabitable and need a lot of work.All are located in a stunning part of the city and plenty of interest is expected when the first home hits the market early next year.It will be a condition of the lease that the properties be brought up to heritage standards, and the Department will require a bank guarantee from the lessees to ensure that this work is done.

The marketing of 99-year leases was preferred over direct sale of the homes, as it allows the Government to maintain public ownership and to ensure that the Millers Point community continues as a vibrant neighbourhood. The leases will fund new social housing projects, in the Inner West, as part of the Government’s Inner West Housing Strategy.

Over the next two years, the Government will spend $60 million on redeveloping or purchasing a total of 253 new homes in a number of key locations throughout the inner western suburbs.

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- National Nine News

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