Estate blocks go under the hammer
HANDS may have remained firmly tucked away in pockets at the Lookout Estate auction at the weekend but more than half of the nine lots on offer could have new owners this week.
Things got off to a good start with the first lot offered up garnering interest from one eager bidder.
It was the biggest in size at 1189sq m and sold under the hammer for $120,000, after starting with an initial bid of $75,000.
But from there it was all quiet with auctioneer Gavin Croft calling for "cheeky bids" to get the ball rolling.
Submission five was the next to get some action before eventually being passed in.
He said the mortgagee was keen to sell but with bids "just shy of the reserve" he couldn't sell at the prices being offered.
A few more went the same way with eager buyers throwing their hats in the ring but not quite hitting the mark.
While the hammer didn't fall for the eight lots, four were expected to attract offers this week under different selling conditions, leaving only four up for grabs in the Glen Rd estate.
An additional lot was offered up by Mr Croft at the last minute.
"This is not under the mortgagee, the seller is here today and can consider offers," he said.
It was passed in.
Going, going ...
Nine lots on offer
One sold for $120,000
Four others passed in with no bids
Three passed in - bids failed to meet reserve
One additional property added at the last minute but passed in with no bids