Mehajer family's Canada Bay property back for auction

A bayside Canada Bay property associated with the family of jailed bankrupt property developer Salim Mehajer is back up for sale again.

It is now on its third marketing campaign within the past year.

Its March 9 auction price guidance is $1.45 million to $1.6 million.

The Lyons Road West site with a rundown 1970s home on 470 square metres passed in at $1.6 million at its unsuccessful auction last November.

CIA Real Estate Auburn agent Joe Salah, who has the offering again, elicited bidding from two registered parties.

"I'm under instructions to sell for a very desperate vendor," he advised.

It was withdrawn from its auction last April.

It traded at $1.4 million in 2015 with plans to build a striking three-storey home, close to the 10th hole tee-off at the Barnwell Park golf course.

There is approval for a two-storey home valid only until October this year.

Its official land value is $1.35 million.

This article first appeared in The Sunday Telegraph.