THE former home of Doug Dyde's Produce Store in central Albury has sold at auction for a price that exceeded expectations.
The L-shaped block, with entrances to David and Wilson streets, went under the hammer on-site on Friday, September 8, and drew offers from three bidders.
It sold for $1.76 million to a Kiewa Valley couple, who declined to be identified but plan to use the property for a commercial purpose.
A vendor's bid of $1.2 million was put by auctioneer Andrew Dixon to start the sale and bidding then unfolded in $5000 lots, before dropping to $2500 and then $1000.
One of the losing bidders was Jason Elkington from the neighbouring hunting and fishing shop.
Mr Dyde and his wife Colleen and relatives watched on as the auction unfolded on the former shop floor before a crowd of 40 to 50.
The price exceeded the Jindera farmer's expectations, he remarked "I dare say the extended family will get a benefit".
The Dydes bought the property in the late 1970s and ran the farm supplies business until 15 years ago when they sold it to Paul Ziebarth who continued to lease the premises and trade under the Doug Dyde name up to the second half of 2022.
"We had 30 unbelievable years here; every year was very successful, so it's a bit sad," Mr Dyde, 83, said.
"We knew most people from Corryong to near Mildura.
"We used to see a couple of hundred people a day and up to the third generation of some families and all of a sudden that's gone and you find you're talking to yourself."
Mr Dyde said with ageing surrounds and an asbestos roof the building had become "worn out, so we couldn't renew the lease" last year.
The couple originally spent $350,000 to buy the block and fit it out, after it was previously used by a stock and station agency and an engineering works.
Mr Dyde had worked in the Albury store Permewan Wright, in a building that now houses Dan Murphy's liquor barn, before deciding to take his skills into his own business.
The 1348 square metre block allowed customers to drive through and pick up their supplies with the building 795 square metres.
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