Site sold before auction
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.