Auction draws a crowd as central office space sells for more than a million
STORY ACCREDITATION: The Border Mail, August 29 2025 | WRITER: Chelsea Wilson
The agent encouraged potential buyers to “invest in a tightly held CBD location”. Picture supplied
A central Albury commercial auction proved to be a crowd-pleaser as a six-horse race turned into a spirited bidding war.
More than 45 people watched as half a dozen parties bid for the Macauley Street office space on Friday, August 29.
Bidding began at $1.1 million, and the property was sold at $1.56 million.
Auctioneer Oscar Dixon, from Dixon Commercial Real Estate, was pleased by the outcome.
“It’s an outstanding result and I’m very happy for the vendors,” he told The Border Mail.
“The two main bidders jostled for the property from 1.4 upwards.
“All you need is two bidders there and you really get full value for your property, and it’s a transparent way to sell things.”
The building is currently occupied by Premise Engineering, Surveying and Planning who the agent says are “well known in the region”. Picture supplied
The premises comprise 1082 square metres and include frontage on Macauley Street, rear access to Parkway Lane, a double garage and additional off-street parking.
The 405 square metres of office space includes a reception area, kitchen amenities, and solar-powered heating and cooling and is less than one kilometre from Dean Street.
Current leaseholder, Premise Engineering, Surveying and Planning, has occupied the property for more than 40 years.
The gross annual rent of the property is $81,528, and the buyer has the opportunity to negotiate with the existing tenant or to develop, subject to council approval.