Lavington industrial block passed in at auction but demand remains high for land on the Border

The lot in the recently developed Northpoint Industrial Estate on Woolpoint Court, off Wagga Road, reached $875,000, which was well below reserve and saw it submitted for private negotiations.

Auctioneer Andrew Dixon, of Dixon Commercial Real Estate, started proceedings with a vendor bid of $850,000, which was taken up to $875,000 by a prospective buyer over the phone.

No further offers were put forward from the crowd and the auction was closed.

Mr Dixon revealed the estate's 13 lots were all sold prior to its completion in July last year and this particular site was a resale.

"We've come from a stage where there was an abundance of industrial land not that long ago to a stage now where there's virtually no industrial land in Albury-Wodonga," he said.

"The traditional 1000-square-metre or 1500 square-metre blocks that used to always be available are not available.

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"You go across to Wodonga and there's no industrial land and what we're also seeing now, which is quite interesting, is industrial vacancies are very low.

"We used to always have people come into our office and they'd be wanting a 200, 400 or 1000-square-metre shed and at this point in time there is very limited choice."

Mr Dixon said rent for industrial properties had increased due to businesses wanting to relocate to the Border to operate.

"The population base continues to grow and Albury-Wodonga as a major regional centre continues to attract national interest," he added.

Meanwhile, two homes will go under the hammer with Stean Nicholls Real Estate on Saturday.

The Albury agency will attempt to sell a four-bedroom, three-bathroom house, set on almost 6000 square metres, on Meringa Road at Table Top.

A four-bedroom dwelling on George Street in central Albury is also up for grabs.

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