Peterborough Council sells eight properties to recover unpaid rates

Eight Peterborough properties that were listed for sale by the local council to recoup unpaid rates have been snapped up under the hammer.

The six houses and two vacant blocks were sold for prices that are yet to be revealed at the Peterborough Town Hall on Friday.

Selling agent Angus Barnden, of Wardle Co Real Estate, said the properties attracted plenty of interest.

MORE NEWS

‘Competitive’ first-home buyers flood market

Musician snaps up one of nation’s most popular homes

‘Not a palace’: Tin shed comes with unit inside

102 Queen St, Peterborough.

106 Queen St, Peterborough.

94 Hill Street West, Peterborough.

118 Hill Street West, Peterborough.

“I believe we had 60 registered bidders so a good turn out,” he said.

“We had a 100 per cent clearance, all eight properties sold … and the results were good, all achieved a sale price above reserve.”

Mr Barnden said one other property was due to be auctioned but was withdrawn before the event as the owner paid the owed rates.

“The council got what was outstanding in debt to them,” he said.

Peterborough Council listed the nine properties – seven houses and two vacant blocks – for sale earlier this month in a last-ditch attempt to recover debts from the owners who defaulted on their rates.

Each in various states of neglect and disrepair, the properties were expected to fetch no more than $80,000 each.

29 Princess St, Peterborough.

54 Bourke St, Peterborough.

91 Dawson Rd, Peterborough.

46 Fowlers Rd, Peterborough.

It is believed at least two of the homes were occupied when they were listed.

Mr Barnden said when they hit the market that there had been strong interest in all the properties, with most buyers keen to restore the homes to live in, rent or “flip’’.

Last year, The Advertiser revealed councils in metropolitan Adelaide were owed more than $43m in unpaid rates, with the cost-of-living crisis blamed for an increase in failures to pay bills on time and hardship applications.

Under the Local Government Act, councils may sell properties where rates have been in arrears for at least three years.

The post Peterborough Council sells eight properties to recover unpaid rates appeared first on realestate.com.au.