It takes 300? Mammoth auction leads to Abbotsford development site sale
Staff reporterDecember 7, 2020
An owner-occupier beat a land banker/developer with the 300th bid at a marathon auction for 50-54 Duke Street, Abbotsford.
The property sold at $3,126,000.
It comprises a 358 square metre, single level building, currently used as an office, on a 675 square metre site.
It is zoned Industrial 1 with on-site parking for eight cars.
Teska Carson estate agent Luke Bisset said the locale had become increasingly popular with both residential and commercial tenants.
Bisset said that the property had generated 75 enquiries.
It sold $426,000 above the vendor’s reserve.
Biisset said there was a vacancy rate currently tracking at an all-time low in the suburb just four kilometres from Melbourne’s CBD.