Prime commercial real estate sells at auction

A block of land in the commercial heart of Dubbo attracted more than 70 bids before it finally sold at auction for more than $560,000.

The Brisbane Street property located near the Commercial Hotel was offered for sale by the NSW government.

The winning bidder was a local developer who now has the chance to transform the land that once housed Dubbo's ambulance station.

The rectangular block measuring about 961 metres square is zoned for commercial use.

Selling agent Chilton Simpson yesterday confirmed the sale had taken place at auction on December 11.

During the six-week marketing campaign, 165 Brisbane Street was presented as an opportunity to buy an "ideal development site".

It was one of the few vacant development sites in that part of the central business district (CBD), Mr Simpson said.

The agent reported the NSW government had been the vendor.

There were "a good number" of contracts issued and auctioneer Kim Hamilton was kept busy before the property was sold for $563,000 plus goods and services tax.

"There were more than 70 bids, that was certainly a feature of the auction," Mr Simpson said.

"The locality sold it - being in the commercial core, a good development site with a range of possibilities, and close to retail, hospitality and private and government office space.

"I think all parties were happy with the sale."

The land has a 21-metre frontage to Brisbane Street and side-lane access.

The "sold" sign was one of the only features of the bare site yesterday.

The sale was the second time in six months that the government had divested its interest in a landholding at Dubbo.

Roads and Maritime Services offered Lot 1 Bligh Street for sale via expressions of interest in July.

Dubbo's local environmental plan, gazetted in November 2011, lists a number of uses for 165 Brisbane Street and other land zoned B3 commercial core.

Commercial premises, childcare centres, medical centres and hostels are among the land uses permitted with consent in the zone.


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