A Beechworth pub that has been put on the market twice in the past 18 months failed to attract bids at auction on Friday and was passed in for $1.1 million.
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Earlier in the day on April 5, a commercial property block at Yarrawonga showed intense bidding culminating in a $2.6 million sale.
The owners of Beechworth's Empire Hotel, Andrew Madden, Shauna Stockwell and Scott Daintry, were hoping for bids in the range of $1.3 million to $1.43 million.
The pub and restaurant, refurbished over a five-year period by the trio, was last put up for sale in January 2023 with an asking price of $2.2 million.
Will Bonnici, managing director of First National Real Estate Wodonga, said there had been massive interest when the pub on the corner of Camp and High streets was advertised for auction.
"We've got quite a few people here who are keen, from both locally and nationally, but just couldn't bid under auction terms," he said.
Bidding for another commercial property on Friday morning at Yarrawonga started at $1.8 million but then grew beyond expectations.
"It was quite spirited bidding there, it opened up at $1.8 million, then it went to $2 million and went up in $100,000 bids to $2.6 million when it was called on the market," Mr Bonnici said.
"It then sold for $2.6 million under the hammer."
Mr Bonnici said the property at 23, 23a and 25 Belmore Street comprised three front addresses, a takeaway shop at the rear, and Airbnbs on the second floor.
