Kiama Council resolved in an Extraordinary Meeting this week to revise its reserve prices and delegate to the CEO to negotiate with interested parties for the sale of Council's 5 residential lots at 17–25 Glenbrook Drive, Kiama. The 5 lots all passed in at auction on Saturday 25 October.
The auction attracted strong interest, with a well-attended crowd, multiple registered bidders, and competitive bidding. While the lots did not sell under the hammer, Council remains committed to achieving a successful outcome.
Mayor Cameron McDonald said: "The reserve price for each block was determined using pricing guidance from both the appointed real estate agents and an independent valuer. However, the best way to determine value is to go to market, and now we have done this, and adjusted our prices accordingly."
"Our CEO Jane Stroud, in conjunction with our estate agent, will now negotiate with highest bidders and other interested parties. We're confident in the appeal of this land and we're working to achieve the best possible result for Council and our community."
Council encourages interested parties to contact our appointed real estate agent, First National Coast & Country
