The sun was shining bright at McGees Norwood auction earlier today, held at 43-45 King Street, Norwood. With over 100 onlookers watching 7 bidders fight it out with some 51 bids, the property sold for $2,510,000 + GST for McGees local client Studio On King Street P/L to an Adelaide based builder and developer.
Commenting on the sale McGees Director Craig Feely said, “this auction campaign generated phenomenal response from day 1 right through to the morning of the auction keeping 3 agents on their toes with enquiries and inspections – to the extent we had over 160 requests for information and the first open inspection conducted we attracted 22 groups through the property."
The sales campaign was run by Craig Feely and Yee Ng along with James Juers who also doubled up as auctioneer today. Strong bidding showed demand in the Adelaide commercial market remains high.
Key Stats:
Selling Price - $2,510,000
Land equivalent - $3,130 per sqm
Building rate - $5,545 per sqm
162 enquiries
