Gladfield property auctioned
A GLADFIELD property comprising 20 titles spread over 188 hectares was sold at auction on Thursday night in Warwick for $961,000.
The property fronting the Cunningham Highway was previously owned by development identity Craig Kenway and his firm Scenic Rim Holdings and was offered for sale by the mortgagee-in-possession, the Commonwealth Bank in Sydney.
The auction was held at the L J Hooker rooms on Albion Street with spirited bidding from three parties stalling at one point at $900,000.
The property was eventually sold to a partnership of four as-yet-unidentified buyers, with two understood to be from Casino in northern New South Wales and the other two from Canberra.
The property on Gladfield Back Road was a source of controversy in 2005 when Mr Kenway applied to re-configure boundaries belonging to some of the titles to create a rural residential lifestyle development.
It is not known at this stage if the new owners plan to pursue a similar course.