Auction proves Coffs commercial is hot property
COFFS Harbour's credentials as a prime commercial property investment area were cemented with the multi-million dollar sale of 43 Gordon Street.
The four storey fully leased office building next door to the Coffs Harbour City Council Chambers attracted spirited bidding at its auction in Sydney.
Joint marketing agent Troy Mitchell from LJH Commercial said a room full of eager hopefuls watched the bidding by three parties from two states.
Mr Mitchell said the bidding quickly exceed $5 million, before selling to local investors for $5.175million.
"The strong competition for the asset demonstrates investor con- fidence in the CBD and the city of Coffs Harbour as a major regional growth centre," Mr Mitchell said.
"The successful bidder, coming from the Coffs Coast, shows growing investor confidence by local investors, particularly since the Council has focussed on supporting and nurturing the strengths of the CBD."