Menu
News

Railway Hotel sells under hammer

The Railway Hotel
The Railway Hotel Contributed

ABOUT 80 people attended Harcourt's in-room auction last weekend where 10 properties were up for bid.

"We had 15 registered bidders and sold four properties under the hammer. We are negotiating three others," Harcourts proprietor Nathan O'Neill said.

"People are starting to gain more confidence in the market and there is the possibility of another interest rate decrease," he said.

"The average price for our in-room auctions was $240,000 and that's now $388,000. The average time for a property to be on the market is 120 days but 85% of properties that we put under the hammer have sold in 50 days or less."

Among the properties sold at Harcourts auction last weekend was the Railway Hotel.

Mr O'Neill said there were four bidders including a phone bidder from Fraser Coast with the successful bidder being a local investor who purchased it for $360,000. He said it was his belief the new owner was going to keep the hotel as going concern.

Topics:  harcourts railway hotel

Gympie Times


Widgee business fight, Valley crash and more weekend news

Mike Hartley addresses the crowd gathered in support of Widgee Engineering.

Catch up with the weekend news right here.

Roads, rates and rubbish: Fredman hits the campaign trail

Division 8 by-election candidate Bob Fredman.

My main interest is in roads, rates and rubbish: letter

Roadcraft CEO: Driver education reform needs to happen

Sharlene Markin CEO of Road Craft Gympie.

"We set people up to fail in front of their peers

Local Partners