News

Buyers bid for Doherty land

POTENTIAL buyers remain locked in negotiation over a number of parcels of land put up for auction in Warwick today by receivers acting for local development identity John Doherty.

Oehlmann's Farm just north of Warwick reached a top bid of $360,000, while four adjoining lifestyle blocks attracted limited competition.

The land parcels are part of a large portfolio of properties owned by Mr Doherty and partner Janette Gilchrist now under the control of receivers Ernst and Young, with the couple also subject to legal action by northern New South Wales finance group Westlawn.

This morning's auction at the Coachmans Inn in Warwick got under way at 11am, with 18 registered bidders.

The 64 hectare Oehlmann's Farm was the first property to be offered, with bidding starting at $100,000 and the Elders auctioneer being instructed by Ernst and Young to "work harder" when it reached $300,000.

Of the four lifestyle blocks the smallest, at 7.27ha, reached a top bid of $150,000, while another 13.28ha parcel with an existing sand mining lease brought a top bid of $60,000, from lease holder Warren McDonald.

Of the two remaining lots, one with an area of 8.89ha reached a top bid of$170,000 and the other comprising 9.69ha went to $130,000.

Marketing agents Brent Bowles of Property Specialists and Andrew Williams of Elders began negotiating with potential buyers after the close of the auction.

See tomorrow's print edition of the Daily News for an update.

Topics:  john doherty



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