Dubbo’s Rhino Lodge failed to sell at auction on Thursday morning with the highest bid $1.8 million.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
It was made by Dubbo RSL Memorial Club president John Millar, who sat in the front row at the auction beside the club’s general manager Gus Lico.
The only other bidder was Shawn Maas, director of Laser Plumbing Dubbo, who stood at the back of the room.
The public auction in a level one room at Quest Dubbo attracted more than 50 people including three registered bidders.
Rhino Lodge at 14L Camp Road went into receivership in April leaving brides-to-be distressed and out of pocket.
Chamberlains SBR was appointed receivers and managers of the land and buildings situated at the almost seven-hectare site.
Andrew McDonald Commercial Dubbo has been marketing the property.
By Thursday it had fielded 46 inquiries about Rhino Lodge and conducted 17 inspections.
Auctioneer Allister Rodgers called for opening bids soon after 11am on Thursday.
The first bid of $1.2 million rose slowly to $1.8 million with the property eventually passed in after the bidding failed to reach an undisclosed reserve.
After the auction, Andrew McDonald Commercial Dubbo consultant Rob Reardon said the $1.8 million was “not quite close enough to do a deal today”.
The highest bid and the reserve were “not a long way apart but far enough”, he said.
As the “losing bidder”, Mr Millar has the right to negotiate for the property first.
Mr Reardon said other potential buyers had asked to be informed of the auction result. “Some of them weren’t in a position to bid at auction,” he said.
On Thursday the consultant was hopeful that “by this time next week we would have signed contracts”. “There should be enough interest out there to keep us busy for the next week in putting the deal together,” Mr Reardon.
The property includes a four-bedroom and three-bathroom residence, night manager’s residence, two function centres, two bars, two kitchens and 14 luxury safari tents that can be expanded to 31.