Former Advocate building sold at auction
FOLLOWING a staggering 60 years of ownership, the former Coffs Coast Advocate building at 53 Moonee St has been sold at auction.
The iconic local building went under the hammer for $1.063 million to a local businessperson.
The property was jointly marketed by local agents Kel Gibson of The Edge Commercial and Steve Little of The Commercial Real Estate Agency.
Mr Gibson served as auctioneer and Mr Little said the bidding got very spirited with a total of 53 bids.
"The auction was a cliff-hanger because of the high number of bids and both interested parties bidding furiously and getting down to small bids before it was finally knocked down."
Mr Gibson said the auction was the result of a strong marketing campaign.
"There was good interest in the property and a number of contracts were issued and several inspections were carried out prior to auction," he said.
Mr Little said the new owner has not disclosed the intended future use of the building, but had not ruled out refurbishing it to a modern standard for lease.
The Advocate is now operating from new premises at 144-148 West High St on the corner of Moonee St.