Auction exceeds hopes

The estate property situated at 171 Douglas Street had a quotable valuation of $103,00 but sold for $268,000.

"It was a good redevelopment site in a prime area. We'd hoped it would go for between $200,000-$250,000 . . . so it's exceeded our expectations," Mr Morton said.

A brick villa on a 1305-square-metre site, the property attracted bids from eight parties.

"There's normally only two or three bidders so it was one of the best auctions we've had in the last couple of months," he said.

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