A slice of land next to Pialligo Estate - lot 2 of 18 Kallaroo Road, Pialligo - has sold for $2.3 million.
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Four bidders fought over the land, which sits next door to the site of the collapsed hospitality business, for five minutes during an online auction.
Bidding began at $1 million.
A title search suggests the 6.5-acre block of land is half-owned by the former director John Russell and his wife Melissa.
Pialligo Estate was liquidated early this year, owing nearly 600 people, businesses and government departments more than $10.6 million.
These creditors are not expected to receive funds from the sale of the land.
Lot 2 was marketed as a "truly unbeatable" location to build a "dream home".
"With a blank canvas before [you, you] have the freedom to envision and create a home that perfectly suits your style and needs," the Blackshaw Corporate ad said.
"The location of this lot is truly unbeatable for those seeking a peaceful and private setting.
"Nestled within the serene Pialligo area with [its] spacious dimensions and prime location."
It includes a hole in the ground, which is understood to be the beginnings of an abandoned house, and part of a vineyard.
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The lot is one of four on a bigger block, which already has at least one residence.
All four lots are owned by one company, Pialligo Horticulture.
Through a series of companies, Pialligo Horticulture has four separate owners, who The Canberra Times understands have responsibility for one lot each.
Lot 4 was listed for sale in April and was expected to sell for more than $30 million, the selling agent told this masthead.
Six months later, the property is still accepting expressions of interest.
The entire 19 hectare section can only have three houses on it, the lease for 18 Kallaroo Road, Pialligo, shows.
The most recent public sale in the suburb of Pialligo was a seven-acre block of agricultural land bought for $6 million in June 2022, CoreLogic records show.
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Lanie Tindale
I am City reporter at The Canberra Times. I previously covered health for the masthead, and was a trainee before that. I have written on courts, federal politics, breaking news, features and opinion. lanie.tindale@canberratimes.com.au.
I am City reporter at The Canberra Times. I previously covered health for the masthead, and was a trainee before that. I have written on courts, federal politics, breaking news, features and opinion. lanie.tindale@canberratimes.com.au.
