Trotting Building Sold

Press, Volume CVI, Issue 31096, 27 June 1966, Page 18

Trotting Building Sold

The New Zealand Metropolitan Trotting Club’s brick plastered building with a concrete roof, on a section of 18.5 perches, and a detached brick storage building, on a section of six and a half perches, at the corner of Oxford terrace and Armagh street, were sold for £38,500 to the Western Building Society, Wanganui, at public auction.

The sale was held by Ford and Hadfield Ltd. The auctioneer was Mr D. Chapman. The opening bid was £35,000. There were seven bids of £5OO.

Mr W. S. N. Rennie, the immediate past chairman of the society, which was established 21 years ago, said it was society policy to invest in areas where it was doing business. During the last two years it had bought offices in Auckland and Invercargill. It also had consultants throughout New Zealand.

The ground-floor offices of 2250 square feet have been vacated by the trotting club, which has moved to a new building at the Addington Raceway. Mr Rennie said the ground floor would be remodelled and would be occupied by Messrs N. W. Whyte

and M. Watson, who had been the Christchurch consultants for two years. The top floor, of 2500 square feet, is occupied by the New Zealand Trotting Conference, which will move to new premises at Addington early in the new year. The rental is £7OO a year. The Government valuation is £32,350.