THE resurgence of the Wagga Road area in Lavington suffered a temporary halt yesterday when a prime development site didn’t sell at auction.
The site previously occupied by a Caltex service station and Hungry Jack’s restaurant failed to attract a bid.
Local agents Link Real Estate conducted the auction with auctioneer George Bourdis informing a small crowd of potential buyers the 7175 square metre vacant block at the corner of Wagga and Kaylock roads could fetch $2.1 million.
Mr Bourdis said after the auction there was genuine interest in the site from at least one party.
Caltex, which owns the site, and Hungry Jack’s both closed in 2012 with WOW Sight and Sound and Grant’s Timber and Hardware closing two years earlier.
But the area has undergone a recent resurgence.
Earlier this year, plans were approved for a $850,000 commercial development on the opposite side of Kaylock Road and Aldi confirmed plans to relocate from Lavington shopping centre to the old WOW building.
Zauner Construction has also developed a multi-storey building for its headquarters and Lavington Library.
Meanwhile, Jacob Toyota will develop a service centre fronting Griffith Road later this year or early next year.
The car dealer also has a 1732 square metre site fronting Wagga Road it wants to develop.
Meanwhile, the $3.2 million upgrade of the Mate’s building in central Albury has been given development approval by Albury Council.
Crowe Horwath’s property arm submitted a development application for works earlier this year, which will see the top floor of Mate’s become home to Harris Scarfe and land next door, previously owned by Proton Developments, also redeveloped.
Work is expected to coincide with the $1.8 million upgrade of Kiewa Street and includes a new pedestrian crossing.