Friday, June 21, 2024

City of Sydney to sell four homes below market value

The City of Sydney Council has resolved to undertake an Expression of Interest (EOI) to sell four council-owned homes in Beaconsfield, Potts Point and Darlinghurst under market value in a bid to boost local housing stock.

The Council says its objective for the EOI is to maximise the quantity of stock for Affordable and Diverse Housing.

In Darlinghurst, the Council is looking to sell a row of seven semi-detached heritage listed terraces.

There are a mix of sizes, including:

  • Three two-storey, two-bedroom terraces
  • Three single level one-bedroom terraces, and
  • One single level two-bedroom terrace.

The properties are close to Oxford Street and the city and are in need of refurbishment, Council said in a statement.

Victoria Street, Beaconsfield
Victoria Street, Beaconsfield

In Beaconsfield, Council is selling a two-bedroom free standing brick and tile residence on Victoria Street. The property doe not have onsite parking.

Springfield Avenue, Potts Point
Springfield Avenue, Potts Point

In Potts Point, it will sell two one-bedroom units with balconies within in a strata managed building on Springfield Avenue with no on-site parking.

One of the units is 56m2 and in need of a full refurbishment, the Council said.

“The other unit is slightly smaller at 45m2 and was refurbished in 2016.”

The Council says it will sell the properties at a discount to market value, with the funds from each sale to go to its Affordable and Diverse Housing Fund, which will in turn create more housing through the City’s grants program.

“Our objective for this Expression of Interest is to maximise the quantity of stock for Affordable and Diverse Housing,” the Council said.

The following organisations will be eligible to make applications:

  • Applicants must operate within the Local Government Area or be able to demonstrate significant benefits for the area’s residents, workers and/or visitors;
  • Not-for-profit organisations;
  • Registered providers of Community Housing; or
  • Organisations that are part of a consortium that includes a Community Housing Provider

For-profit organisations, unincorporated community groups or individuals will not be eligible, the Council said.

The EOI will be managed through the Tenderlink platform.

If you are interested and not already registered on Tenderlink please register here at the City of Sydney e-tendering portal. You must have an ABN to register.

The EOI will commence 30 October 2023 with registered interested parties able to access the relevant information including application criteria, returnable schedules and opens for inspections day and times.

Latest Articles