Bilbar Lodge SOLD today for $1,730,000

Bilbar Lodge, an attractive 29.3ha Kairanga silt loam farmlet, 16km from Palmerston North, sold at Auction on 3rd May.

For a while it looked like it was going to be a one-bidder show, but once Auctioneer David Cotton announced the property exceeded the Reserve price and was going to be sold, a new bidder made their presence known. It then came down to alternating $10,000 bids until such time as the property was SOLD at $1,730,000 + GST. The 2015 Rateable Value was $1,520,000, so a fair and reasonable margin of 13.8% above that.

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