Industrial zones sheds sell for $760,000

FOUR industrial sheds sold for $760,000 when they went under the hammer yesterday in Warrnambool.

The four industrial sheds on Albert Street, drew a crowd of about 15 to the on-site auction, where bidding opened with a $700,000 vendor’s bid. 

Auctioneer Bruce Ludeman told the crowd that the sheds were a great investment opportunity and had “plenty of potential down the track”.

He also said it was a unique property to see on the market in the area. 

“It’s rare to see four leased sheds on the same site going for sale,” Mr Ludeman said.

The bidding climbed from $710,000 to $750,000 in $10,000 dollar increments.

The industrial property eventually sold to an undisclosed out-of-town buyer. 

Ludeman Real Estate agent Mark Dwyer said the result was pleasing.

“We were happy with the result. It was above the reserve price.”

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