Border MP’s central office building sold

Building tenanted by Albury MP Justin Clancy sells shortly after auction for $1.5 million

STORY ACCREDITATION: The Border Mail, June 24 2022 – 5:30pm | WRITER: Beau Greenway

STRONG RESULT: LJ Colquhoun Dixon Real Estate auctioneer Andrew Dixon sold the building which includes Albury MP Justin Clancy’s office on Dean Street after auction on Friday.

An Albury property which houses the office of the city’s state member of parliament and a financial planning firm sold for $1.5 million after auction on Friday.

The office spaces at 612 and 614 Dean Street include Albury MP Justin Clancy’s workplace, which sits alongside DMG Advice.

A vacant office on the upper level of the building was also part of the purchase.

Auctioneer Andrew Dixon, of LJ Colquhoun Dixon Real Estate, placed a vendor bid of $1.4 million to start the auction, which was was followed by an offer of $1.425 million.

No further bids were taken and the property was passed in before it was purchased for $1.5 million after a short negotiation with the owners.

“It was a local buyer and I think it was a good result for buyer and seller,” Mr Dixon said.

“The market continues to perform well during this COVID period. Albury-Wodonga has been a great beneficiary of COVID with people leaving the big cities to live in regional centres.

“We’ve got a couple of vacancies in Dean Street and likewise in High Street in Wodonga, but there’s hardly any industrial accommodation in Albury or Wodonga.

“In my 35 years in real estate in Albury-Wodonga, it’s the first time we haven’t had an industrial property for lease in Wodonga. That’s a real measure of how well the region is performing.”

It’s the agency’s second major sale in the space of seven days after it settled a $1.425 million deal with a Sydney buyer for the former O’Mallies Hotel site on High Street in Wodonga last week.

Meanwhile, five residential properties will be auctioned on the Border today. They include a three-bedroom home set on more than 1000 square metres on Wodonga’s Barton Street.