Property NSW to sell state’s historic first apartment block

The first apartment block ever built in New South Wales is on the market as part of a small portfolio of properties being offloaded by Property NSW.

Property NSW is selling two historic properties in Millers Point, one of which is recognised as the first residential walk-up apartment building ever constructed in the state.

The property at 73 Windmill St, known as ‘Stevens Buildings’, is considered architecturally significant and comprises 11 apartments with views of the Sydney Harbour Bridge, Garrison Church and Observatory Hill.

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All apartments have their own balcony, while the ground floor has a private courtyard.

The property at 73 Windmill St has views over Sydney Harbour.

Also on offer as part of the landmark sale is a string of eight two-bedroom period duplex homes at 74-80a High St.

The 540sqm island site is divided into two blocks, each containing four apartments, which all have large verandahs and living spaces, while the first-floor properties also have rooftop drying terraces featuring views over Barangaroo, Balmain and Darling Harbour.

Both properties will be auctioned through Savills’ Robert Lowe and David Hickey and Sotherby’s International Realty’s Richard Shalhoub on Thursday, December 14.

Shalhoub says he expects developers to jump at the properties.

The row of eight duplexes on High St at Millers Point.

“There is potential to transform the wonderful 1900s historical masterpiece that is ‘Stevens Buildings’ into luxurious residences, prominently situated in one of the most coveted streets in Millers Point,” he says.

“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”

Lowe says large tracts of prime property in inner-city Sydney are increasingly rare.

“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 St, just moments from the Sydney Harbour foreshore and adjacent to Barangaroo,” he says.

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