Happy as a pig in mud as motel housing meat workers sells for seven figures

Motel Wingrove on Federation Way, leased by Rivalea Australia, which operates a piggery in the town, was snapped up by a Corowa investor for $1.35 million on Friday, February 23, after strong bidding between two parties.

The auction started with a vendor bid of $1.1 million placed by Dixon Commercial Real Estate auctioneer Oscar Dixon, before the pair exchanged $50,000 offers to see it rise to $1.2 million.

Bids then dropped to increments of $25,000 as the duo continued to vie for the 2700-square metre property, before the 10-unit motel was secured for $1.35 million.

Dixon Commercial Real Estate director Andrew Dixon said it was an excellent result with both vendor and buyer happy.

"We had two strong bidders, one from Melbourne and one from Corowa, and the bidder from Corowa was successful," he said.

"This was really a commercial investment because it was leased to Rivalea who run the piggery down here as they needed accommodation for their workers."

Rivalea Australia entered into a five-year lease in April 2023, which generates an annual income of $150,000 per year for the owner.

Eight of the 10 motel rooms have recently undergone renovations, while the property also includes a three-bedroom residence with a living and kitchen area.

Meanwhile, the agency sold a more than 3500-square metre vacant industrial site on Woolpoint Court in Lavington for $620,000 after it was passed in at auction on February 16 for $550,000.

The block is part of the Northpoint Industrial Estate off Wagga Road.