Selling agent, LJ Hooker Inverell principal Miles Devlin, said that after “good, active bidding” from several parties, the property sold at $505,000.

He couldn’t reveal anything about the buyers, who bid by phone, but said it was “great to have it sold”.

“It was pleasure to market it and a very interesting property,” Mr Devlin said.

“It’s great to have it sold and hopefully somebody will do some justice to the beautiful old building that’s been sitting empty for so long.”

The auctioneer was stock and station agent Robbie Bloch of CL Squires & Co, who said there were four or five active bidders.

“It was a real privilege – I’ve never in my career sold a place as historic or iconic as that,” he said.

“It was probably as big a crowd as I’ve seen at an auction: it wouldn’t surprise me if there were 100 people there.”

Mr Bloch said there was “a lot of bidder activity” from about four or five different parties.

“It was really a once-in-a-lifetime thing; when I was selling it, I said I doubted very much if we’d ever see this sort of an opportunity again,” he said.

“Whoever bought it, if they’re in a position to do something with it, it will be the most magnificent building in Inverell.

“It’ll be really good for the town.”

The property comprises the two-storey ex-Sisters of Mercy convent – which was later used as accommodation for people with disabilities – and the two-storey caretaker’s residence next door.

The block is about 2615 sq m and is zoned B2, a “local centre” zoning that allows for “a range of retail, business, entertainment and community uses”. 

As for the property’s next life, Mr Devlin said a great option would be “something like accommodation”.

“It’s very hard to say – there are so many different options – but I think it would be wonderful to see any life or activity at the building.”

Both buildings need restoration and are heritage-listed.