Mt Majura Estate auction has 'positive turnout' as 24 of 25 lots sold by Colliers

Colliers International marketing executive Johnathan Julius said they'd reached their aim of averaging $1000 per square metre, with 24 of 25 lots being sold.

"So there was a variety, it ranged from [$450,000] all the way up to [$525,000]," he said.

"It was a very positive turnout."

The lots were selling mostly $55,000 above reserve price.

The inner north development had been pitched as having close proximity to Mount Majura, the Dickson Shops and downtown Canberra.

"I think the opportunity to own land in the inner north has really presented itself," Mr Julius said.

He said the turnout had included couples, individuals and builders with a fair share of second home buyers looking to upsize.

"The interest level has been fantastic, we've had over 150 enquiries, and 80 registered bidders," he said.

But he added there were a few more walk-ins.

Canberra's upcoming light rail will be in close proximity to Mt Majura,

but Mr Julius said this hadn't appeared to have added a boost to sales.

"This has not been a topic of conversation as a consideration for buyers for Mt Majura Estate," he said.

It was the final auction at the estate, with the Saturday auction seeing off the remaining single residential sized lots.

The original Watson site was home to the Canberra Carotel, a motel and caravan park.

"The estate and its surrounds will help rejuvenate and old site that has been used for cheap accommodation," Mr Julius said.

"The last auction was held in March this year with a 100 per cent sales rate."

The lot which failed to sell on Saturday will be returned to developers.