Duel for Work Site

Dixon Commercial Real Estate sells Jindera industrial property on Stockwell Road for $860,000 at auction

STORY ACCREDITATION: The Border Mail, December 9, 2022 | WRITER: Beau Greenway

Andrew Dixon, of Dixon Commercial Real Estate, calls for bids on an industrial property at Jindera on Friday, which eventually sold for $860,000. Picture by Mark Jesser

An industrial property at Jindera has been snapped up for more than $850,000 at auction after a strong exchange of bids between two interested parties on Friday.

The almost 6000-square metre site, which boasts an 800-square metre warehouse and office on Stockwell Road, on the outskirts of the town, went under the hammer for $860,000.

A 280-tonne silo is situated at the rear of the yard, with concrete foundations laid for two more.

Auctioneer Andrew Dixon, of Dixon Commercial Real Estate, placed a vendor bid of $780,000 to commence proceedings, which was quickly toppled by an $800,000 offer.

Bids continued to climb in increments of $10,000 to reach $840,000, before two $5000 raises were accepted to take it to $850,000.

Mr Dixon briefly suspended the auction for a discussion with the vendor and revealed upon resumption that the property was on the market and would be sold to the highest bidder.

Two more $5000 increases followed before it was sold for $860,000.

Mr Dixon said the growth in the Albury-Wodonga industrial market had seen towns such as Jindera come into their own with affordable opportunities to relocate or buy land and develop.

“The site is two kilometres to the centre of Jindera, 15 kilometres to the centre of Albury and is not far from the Hume Freeway, which provides great opportunities for the buyer,” he said.

“Originally it was developed as a grain haulage facility and offers lots of flexibility with its existing infrastructure on a large corner site.

“Albury-Wodonga continues to grow with a population base in excess of 100,000 people and there’s virtually no industrial land for sale and certainly no industrial buildings available.”

Mr Dixon said there was limited industrial lease availability, which indicated the strength of the region.