Site sold be­fore auc­tion

Shepparton News - - NEWS -

An ex­pan­sive re­tail prop­erty which was to be auc­tioned was sold be­fore the drop of the ham­mer.

The 6000 sqm com­mer­cial prop­erty at 7950 Goul­burn Val­ley Hwy, Shep­par­ton, which is oc­cu­pied by Amart, was to be auc­tioned at Crown Casino on Wed­nes­day.

But an over­seas in­vestor liked the prop­erty so much they made an of­fer which was ac­cepted late last week.

Gagliardi Scott Real Es­tate di­rec­tor Rocky Gagliardi was coy about ex­actly who pur­chased the prop­erty, but did re­veal they were an off­shore Chi­nese in­vestor.

‘‘They f lew in on Wed­nes­day, in­spected it on Thurs­day and signed up that af­ter­noon,’’ Mr Gagliardi said.

The sale amount was con­fi­den­tial, but he said it went for an amount he was happy with.

‘‘It’s been a great year so far for com­mer­cial sales,’’ he said.

The site was pre­vi­ously oc­cu­pied by Har­vey Nor­man be­fore it re­lo­cated up the road in 2015.

A list­ing from be­fore the sale stated that it had an ex­pected sale price of about $5.4 mil­lion.

Go­ing go­ing gone: This site has been bought be­fore auc­tion.

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