Combination of factors lead to lots under the hammer
MORE than 25 community assets will be put under the hammer this month due to what the Bundaberg Regional Council has termed "a combination of financial factors".
The assets, a series of spare allotments, are located around the Bundaberg region from Childers and Welcoome Creek and others in Bargara and Horse Camp.
Bundaberg Mayor Mal Forman confirmed the sale was unusual.
"Council rarely holds this type of auction and usually conducts property auctions in conjunction with the recovery of arrears of rates," Cr Forman said.
"A combination of financial factors are key drivers behind the council's decision to offer up to 26 allotments for auction later this month."
Cr Forman said it was hoped the low interest rates would make purchase of the allotments more attractive to prospective buyers.
"And council also saw an opportunity to reduce its property portfolio and provide a cash flow for its general revenue," he said.
Cr Forman wanted to stress that this property sale should in no way be viewed as a "fire sale".
"But rather council offering a collection of properties, most of which are fully serviced with power, water and sewerage and located in some great areas of the Bundaberg region."
Cr Forman said Synergy Property Specialists had been selected to conduct the auction after expressions of interest were sought from an extensive number of real estate agents.
"I would encourage anyone looking for an investment property or a homesite to attend the auction," he said.
The auction will be held at the Council Administration Centre on Bourbong St on June 30 and July 1.