Former jeweller shopfront in CBD sells under hammer after fierce bidding war
STORY ACCREDITATION: The Border Mail, October 31, 2025 | WRITER: Ted Howes
Auctioneer Andrew Dixon of Dixon Commercial Real Estate addresses a small crowd on the corner of Dean and David streets on Thursday afternoon, October 30. Picture by Ted Howes
A fierce bidding war erupted in Dean Street on Thursday, leading to a corner block premises in central Albury selling under the hammer for under $1 million.
Bidding for the former Albury Jewellery Manufacturers shopfront across the road from Grill’d Burgers on the corner of Dean and David streets started at $750,000.
Auctioneer Andrew Dixon, of Dixon Commercial Real Estate, told a crowd of about 12 that the building area of 67 square metres sat “on a prime corner” of the city’s retail area.
The air-conditioned premises came with new carpet, fresh paint and access to grease trap for food operators.
The closure of Albury Jewellery Manufacturers comes after another Dean Street jeweller, Coronet, announced in August it would close its doors after operating in Albury for 70 years.
“This particular block now has become consolidated; it’s become stronger,” Mr Dixon said.
“I suppose a lot of the food operators have been drawn to the cinema centre and I suppose with occupancy and tenancies and businesses on both sides, this block has become a focal part of central Albury.
Andrew Dixon of Dixon Commercial Real Estate said the building was in a steadily growing retail section of Albury’s CBD. Picture supplied
“If you’re in Centrepoint, or if you’re in these big shopping centres, you’re paying in excess of $1000, $1200, $1400 a square metre, enormous rents.
“But when you come back into Dean Street, your rents are more affordable.”
The corner premises looks diagonally across to Lighting Bonanza. Picture supplied
The initial bid was met with a counter bid of $760,000 and then progressed in 20 bids between two bidders in increments of $10,000.
Bidding for the shopfront at 462 Dean Street was contested between two bidders on Thursday, October 30. Picture by Ted Howes
The biggest leap was when a bid of $880,000 was countered with a $900,000 offer.
However, when a bidder upped the ante for a smaller increment, the property was sold under the hammer for $905,000.