A historic central Albury home, which was saved by council from being demolished, has gone under the hammer.
Meramie on Kiewa Street, which was once a former mayors home and private hospital, was passed in during the Stean Nicholls auction in front of around 50 onlookers for $975,000.
Auctioneer Geoff Stean told the crowd the highest bid did not meet the vendors reserve, but negotiations would continue with owners Ian and Joy Clark.
Despite confidence from Mr Stean that a sold sticker would go on the for sale sign out the front, only three of the several registered bidders put their hand up after the bidding started at $800,000.
Mr Stean described the 1595 metres squared property, which was built by the Griffith family in the late 1800s, as a "blank canvas".
"You can do what you want with it," he said.
"The home is not heritage listed as some people think it is, it is only in the Albury City Council heritage overlay which means council approval would be need for renovations."
Mr Stean used the opportunity to share how sought after properties in central Albury are, which has only been emphasised during the pandemic.
"We decided to auction this property late this year, even with COVID and the uncertainty of our world," he said.
"But that has also brought about the certainty of this area.
"If one percent of one per cent of Melbourne wanted to come and live here we couldn't accommodate that."
The property has been vacant since 2015 and would need extensive renovations before it would be livable.
The property has six bedrooms, three bathrooms and boasts 13 foot high ceilings.