Council properties pass in at auction
AFTER two very successful auctions in Sydney for the Clarence Valley Council depot in Bruce St and a property in Victoria St, Grafton, Ford and Doughtery opened up the floor for investors and local businesses to buy unused council facilities in South Grafton and Grafton.
Sales Agent for Ford and Dougherty, Stephen Haines, said they had four properties up for auction on Saturday.
"We have Mulgi Drive, Brickworks Lane, 70 Pound Street and 101 Spring Street, the old library over South,” Mr Haines said.
"First two were both passed in, several bids on both but it didn't quite reach the reserve price, we expect to do deals on those next week,” he said.
Mr Harris said because of this, the properties will go on the market.
"Basically the council representatives here today will go back and discuss it with the counsellors on Tuesday, at the Tuesday meeting, and after that we will sit down with them and work out what price they want to go to market with,” he said.
"We will then contact the people who have registered to bid and try and work a deal.”
Ford and Dougherty Principal Rob Ford said the auctions on Saturday had not gone to plan because of a few factors outside of their control.
"Here this morning, being of a commercial nature, there are certain avenues that lending financiers require and just unfortunately between that and a conglomeration of the local flu going around our group of buyers we thought were here this morning haven't been able to attend under auction conditions,” he said after calling off the auction of 70 Pound Street.
"However we have received an offer under private treaty which is excellent, we're negotiating with that, but because of the local council probity reasons, we can't resolve what's going on.”
Mr Ford said the Brickworks Lane property was close to reaching a deal.
Mr Harris said a similar thing occurred at the auction for 101 Spring Street.
"We had one registered interested party, we decided to not call the auction,” he said.
"However there has been an offer put forward.”