An Albury investor fought off two other interested buyers to land a North Albury property with a recently created warehouse and carparking.
Wayne Briant purchased the property on the corner of Mate and Fallon streets for $2.15 million at an auction conducted by agents L.J. Colquhoun Dixon yesterday.
Bidding on the property opened at $1.4 million and rose to $1.7 million when declared on the market by auctioneer, Andrew Dixon.
The price steadily climbed on $10,000 bids before eventually selling.
After the auction, Mr Briant said he would consider creating a bulky goods outlet on the property he had been interested in buying for 18 months.
"I just think it is a good position," he said.
"North Albury is growing and it is a good retail opportunity.
"It's a bit more than what I wanted to pay."
More than $1.2 million had been on improvements on the site including shedding and car parking in recent times.
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"There was good competition on the property," Mr Dixon said.
"There had been good enquiry during the campaign and we saw some strong bidding."
The property was owned by the Abikhair family which also owns prime land in the Albury CBD which will be auctioned next Friday.
Two vacant, dilapidated buildings and Abikhair House at 481-487 Swift Street will also be auctioned by L.J. Colquhoun Dixon.
The North Albury property is located next door to the headquarters of DLG Aluminium & Glazing which is also being offered for sale in an expressions of interest campaign being handled by agents, Stean Nicholls.
DLG is relocating to Ceres Drive, Thurgoona with development plans approved.
Its Mate Street home of 20 years with a lease back to December 31 next year.
Meanwhile, Ray White Albury North has had another 100 per cent clearance rate for residential property auctions in the Friday timeslot.
A three bedroom in Kosciuszko Road, Thurgoona topped the properties sold under the hammer at $438,000 followed by another three bedder in Urana Road, Lavington selling for $412,000.
Another property in Kaitlers Road, Lavington sold for $408,000 as did properties in Harmer Street, Glenroy and Bevan Street, Lavington for $275,000 and $301,000 respectively.
"It was another fantastic result," managing director Andrea Lever said.
"They all sold over the reserve, they all had multiple bidders.
"To get five out of five sales and be all over within an hour and a half is pretty exciting."
Last week Ray White sold three under the hammer in online auctions and have got another three being auctioned next Friday in Kemp Street, Rachel Court and Bralgon Street.
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