The WIN Television headquarters in Kingston was passed in at auction this week after two parties wrestled to buy the prime site.
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The drawn-out auction by Colliers International at its New Acton offices on Thursday saw close to 50 bids put by the two parties.
The auction started with a bid of $2 million and finished more than 40 bids later on $2.438 million, with the losing party on the phone at one stage unsuccessfully asking if they could increase the bid by as little as $400.
The property did not reach its reserve price at auction and negotiations are continuing.
WIN Network chief executive officer Andrew Lancaster and Canberra manager Leon Buchanan attended the auction.
The prime real estate on Wentworth Avenue – owned by WIN Television owner Bruce Gordon – has been home to WIN News since 1989. The site is expected to be developed for residences. The news operation will shift to leased premises in Fyshwick later this year.
