IT was smiles all round when a Warrnambool industrial estate shed sold for a staggering $1.3 million at auction yesterday.
Auctioneer Brian Hancock of Brian O’Halloran & Co described the result as “unbelievable”.
“It sold extremely well — well above the reserve price,” he said.
“In today’s climate it was an outstanding result.
“Both vendor and purchaser were happy.”
About 40 people attended the on-site auction at Strong Street yesterday morning, with two bidders battling it out for the former Metaland site.
Bidding opened at $900,000, progressing in $50,000 bids to $1 million.
The successful bid of $1.3 million jumped well over the previous bid of $1.125 million.
New owner Journey Management will use the shed and accompanying surrounds as part of the further expansion of its Geelong-based training company.
CEO Debra Blake-borough said it was a good outcome.
She said Journey Management would be hiring staff for the site in the coming months.
“We’ve got a depot in Portland and in Hamilton and we’ve been doing work in Warrnambool for a while,” Ms Blakeborough said yesterday.
“It will be run like our Geelong depot with a manager and admin staff.”
She said renovations would be carried out to turn the shed into a forklift driver training facility, with excavator training undertaken in an area outside.