ONE of the two historic Barsby’s department store buildings was sold at auction on Friday and the other was passed in after failing to meet the reserve price at auction.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The two buildings (8 and 10-12 Smith St) were put up for auction following the closure of Barsby’s in December after 106 years trading from in Kempsey.
L.J Hooker Kempsey auctioneer Carlos Peters handled the sale which was held on the site.
The auction attracted a mix of onlookers and bidders including Kempsey mayor Liz Campbell, councillor and cafe owner Lou Kesby, representatives of the Kempsey-Macleay RSL Club and a who’s who of the Macleay business community.
The old men’s wear department (8 Smith St) sold before the auction to an eager buyer who paid $435,000 for the building.
Bidding for the other lot (10-12 Smith St) started at $200,000 and progressed quickly before stalling at $400,000, short of the reserve price for the property.
Auctioneer Carlos Peters said despite the building being passed in negotiations with interested buyers would continue.
“I am in negotiations with a potential buyer and the vendor and I am confident we can secure a sale by the end of the week,” he said.
The property will be advertised again this week in case negotiations with the interested buyer cannot be concluded.
