Colliers International's Winter Auction Portfolio, which was held last week in the company's Queen Street office, attracted record crowds, with more than 130 attendees and 35 registered bidders including investors, high-net worth individuals, first home buyers and developers.

On the day, there were 14 residential and commercial properties up for auction up for grabs, with four selling under the hammer and two under negotiations post-auction.

Nigel Summerville, Colliers International Residential Director said he was extremely pleased with the turn-out.

"The stand out performer of the day was the 17-room Dahrl Court Motel, fronting Phillips Street in Spring Hill, which attracted 117 individual bids and sold for $1.3 million, which was $300,000 above reserve."

"It was fantastic to see the emotion and competitive spirit which drove this excellent result - these are the keys to a successful auction."

The Motel was one of three properties within a suite of five from a deceased estate, which sold on the day.

The estate's three residential offerings also sold, including a charming 266sq m, four-bedroom pre-war cottage and two, three-bedroom townhouses on 504sq m on Gloucester Street each sold for $780,000 and $970,000 respectively.

Mr Summerville said these results show that well-marketed properties give vendors the opportunity to meet the current market.

"The auction results were positive considering the market has tightened substantially in the past two months," he said.

The next Colliers International auction will be held on the 6^th of September.

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For further information please contact:

Susan Epp
Communications Manager l Queensland
Tel: +61 7 3026 3322
Mob: +61 434 573 026  
Email: susan.epp@colliers.com