Local Investor nabs Border bank turned Beauty Hub after flurry of Auction bids
STORY ACCREDITATION: The Border Mail, 6 December, 2024 | WRITER: Beau Greenway
Dixon Commercial Real Estate auctioneer Oscar Dixon calls for bids at the auction of a commercial building home to a beauty business on Urana Road in Lavington on Friday, December 6. Picture by Beau Greenway
A Lavington beauty salon and former Westpac Bank branch has been snapped up at auction for almost $650,000.
The Lousky Day Spa and Beauty site on Urana Road sold under the hammer to a Border investor for $642,500 on Friday, December 5.
After closing as a Westpac branch in August 2022, the beauty business opened midway through 2023 after a complete fit-out of the building.
It sits on 503 square metres of land, 287 of which is the building.
The auction started with a vendor bid of $580,000 placed by Dixon Commercial Real Estate auctioneer Oscar Dixon, before the first offer came from the crowd at $600,000.
Two parties exchanged bids of $10,000 to see it rise to $620,000, and reduced them to $5000 as the property went on the market at $635,000.
A third bidder entered the fold and took it to $640,000, before the previous leader hit back with a $2500 rise to win the auction at $642,500.
Mr Dixon said it was a great result for the vendor and purchaser.
“There’s a considerable amount of work that has been done inside,” he said.
“It’s completely different to what the Westpac was.
“It was sold to a local buyer and investor, which bodes well for the Border property scene.”