STORY ACCREDITATION: The Border Mail, March 16 2024 | WRITER: Ted Howes
A crowd of about 30 crowded around the Nelson Electrics warehouse on Carcoola Street, North Albury on Friday, March 15. Picture by Ted Howes
Bidding for a 250 square metre building sitting in an industrial complex in North Albury leapt from a vendor’s bid of $350,000 to nearly half a million dollars at auction on Friday afternoon, March 15.
Auctioneer Oscar Dixon, of Dixon Commercial Real Estate, said the building on a 364 square metre block on Carcoola Street was “positioned within the area’s tightly held industrial precinct”.
“We have a huge sliding door here, very functional large space, and an air-conditioned office all within a secure industrial complex of eight separate buildings,” Mr Dixon said.
“We’re in the industrial heartland of this city, close to the Hume Freeway and Lavington’s CBD.
“The opportunity allows for an owner-occupier to purchase in a tightly held industrial market.”
Mr Dixon tried to coax offers of “$400,000 up” from the crowd of about 30, before announcing the vendor’s bid.
Auctioneer Oscar Dixon outlines the terms and conditions before the auction at North Albury at 2.30pm on Friday. Picture by Ted Howes
A fierce bidding war then ensued firstly in increments of $25,000, then $10,000, then $5000, then down to $2500.
It was declared to be on market when bidding hit $455,000.
The jousting came to an end after a hold of $462,500 was defeated by the final bid of $465,000.
About two years ago, a cold storage warehouse on the same street sold for $1.71 million.
The large sliding door and an air-conditioned office were two selling points of the Carcoola Street warehouse. Picture by Ted Howes