He purchased six - and - a-half acres of harbourside land in an area then known as Woolloomooloo Hill -- which he renamed Potts Point .
Potts Point is named for Joseph Hyde Potts , who was employed by the Bank of New South Wales .
Joseph Hyde Potts purchased six - and - a-half acres of harbourside land in an area then known as Woolloomooloo Hill -- which Joseph Hyde Potts renamed Potts Point .
Potts Point is named for Joseph Hyde Potts , who was employed by the Bank of New South Wales .