STORY ACCREDITATION: The Border Mail, April 11 2025 | WRITER: Beau Greenway
The home of Hume Hire on Reiff Street in Lavington, less than 500 metres from the Hume Highway diamond intersection on Thurgoona Drive, was sold by Andrew Dixon for more than $1.4 million at auction on Friday, April 11. Pictures by Phoebe Adams and supplied
A Lavington industrial property near the Hume Highway has fetched close to $1.5 million at auction.
The 9550-square-metre site on Reiff Street, off Catherine Crescent, was snapped up by a Border investor for $1,430,000 on Friday, April 11.
It sits next to the Albury-Wodonga Cleanaway waste services depot and has 130 metres of frontage to Thurgoona Drive and Wagga Road, around 500 metres from the diamond interchange onto the Hume Highway.
The property is leased by machinery rental venture Hume Hire, with a lease in place until June 2030.
Auctioneer Andrew Dixon, of Dixon Commercial Real Estate, accepted an opening offer of $1.2 million, which was followed by bids of $50,000 to lift it to $1.3 million and get the property on the market.
A rise of $30,000 came next and was trumped by a $25,000 offer to $1.355 million.
Two parties continued to vie for the property with bids varying from $5000 to $15,000 to take the price beyond $1.4 million until it eventually sold for $1.43 million.
This almost 10,000-square-metre industrial site on Reiff Street in Lavington, close to Wagga Road and Thurgoona Drive sold for $1.43 million on Friday, April 11. Picture supplied
The property was owned by Border-based NVP Properties and has a net annual rental income of more than $75,000.
Mr Dixon said it was a strong result and followed his agency’s sale of another industrial site on nearby Hudson Crescent for $1.29 million on March 28.
“It’s a big industrial site with a good tenant and scope for rental growth,” he said.
“It’s in a great position.
“Places like Albury-Wodonga are not going to go backwards and the industrial market here is as strong as I’ve seen it in many years.”