AN Albury office block sold for $1.72 million on Friday after having been bought for $880,000 in 2007.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The 609 square metre property at 531 Kiewa Street opposite the Albury Library Museum was auctioned yesterday by LJ Colquhoun Dixon before a crowd of 50 to 60 onlookers.
Bidding started at $1.3 million and it was considered on the market from $1.4 million.
After that point, bidding was between two parties and rose in $20,000 increments before the hammer fell at $1.72 million.
Estate agent Andrew Dixon said the building, which is divided between two office sections, was bought by an Albury investor.
IN OTHER NEWS:
He said the price reflected the site's prominent location and a buoyant market.
It is leased to the federal government's Department of Agriculture, Water and Environment and OCTEC Employment Services.
Their annual rents are $54,000 and $33,804. .
To read more stories, download The Border Mail news app in the Apple Store or Google Play.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
ADVERTISING
- Bookmark https://www.bordermail.com.au/
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter: @bordermail
- Follow us on Instagram @bordermail
- Follow us on Google News