Multi-million dollar sale reached for central corner building after auction
STOREY ACCREDITATION: The Border Mail, October 21, 2025 | WRITER: Beau Greenway
This commercial building on the corner of Olive and Swift streets in Albury went under the hammer on Friday, October 17. Picture by Mark Jesser
UPDATE
A commercial property in central Albury has sold for more than $2.5 million after auction.
The building on the corner of Olive and Swfit streets, which boasts eight tenancies, changed hands for $2.6 million.
Around 80 people watched on as the property went under the hammer on Friday, October 17.
It was passed in by auctioneer Andrew Dixon after a bid of $2.5 million.
Mr Dixon confirmed on Monday, October 20, the property had sold to the highest bidder for $2.6 million.
EARLIER
A corner property in central Albury with eight tenancies has failed to attract a new buyer at auction.
The 857-square metre building on Olive and Swift streets was passed in for private sale after a bid of $2.5 million on Friday, October 17.
Border investor Ivan Peppe, who owns several Albury properties, including the Globe building on the corner of Dean and Kiewa streets, placed the lone bid as a crowd of around 80 people watched on.
Businesses housed in the building include The Real Florist, Stone Age Records, 2 Grey Birds and Muse Hair Studio.
Auctioneer Andrew Dixon, of Dixon Commercial Real Estate, said it was rare to see a property like this on the market.
Auctioneer Andrew Dixon calls for offers for a central Albury property on Friday, October 17. Picture by Mark Jesser
“What an outstanding central Albury commercial property,” he said.
“It’s superbly positioned on the corner of Olive and Swift streets and one block from Dean Street. It’s close to Myer Centrepoint.
“There are seven leases in place, with one vacancy.
“The building has been well-maintained and well-presented.”
It has a net rental income of just below $235,000, with varying short and long-term leases in place.