The Andersons Bay Rd building where the liquor store the Mill operates sold for $2.3million, while 44 Dundas St, owned by the non-profit Donald Beasley Institute, sold for $1.07million, Colliers International's associate director of commercial/industrial sales and leasing, Dean Collins, said.
''There was good interest, with multiple bidders on both properties. There were more than 120 bids in total for the two properties, with both sold under the hammer,'' Mr Collins said.
Both buildings sold to local buyers but there was out-of-town interest in them as well.
The reason the purchaseswere more than 50% above their rateable value may have been because rental yields on some buildings could, in general, be 1% higher in regions such as Dunedin than in Auckland or Christchurch, he said.
The Mill site sold for 52% more than its rateable value of $1.51 million, while 44 Dundas St sold more than 51% above its rateable value of $710,000.
The Mill site had a 701sq m floor area on the 1531sq m site, with 19 car parks.
The Beasley Institute site covered 1042sq m, with an 1880 two-storey and a single-storey building, requiring earthquake strengthening, plus had several outbuildings.
The Beasley Institute was established in Dunedin in 1984, and is moving to new premises soon.
It undertakes research into intellectual disabilities, as well as evaluation, consultancy, mentoring and postgraduate supervision.
