RHODES ESTATE

Dominion, Volume 8, Issue 2449, 30 April 1915, Page 7

RHODES ESTATE

VALUABLE. CITY BLOCKS SOLD TOTAL OF £42,000 REALISED Tho most important sale of real estate in the 1 city for a long time past took place. yesterday, vlieu a number of properties in the Rhodes Estate wero offered. Four blocks were disposed of, the total received being in tlie neighbourhood of £42,000. The most important transaction was the sale of the group of three sections in the Union Bank block, in tho. heart of the city. These sections, "'which have remained vacant since the great fire of 1906, wcYo sold privately in the room to an unnamed buyer for £24,000. The second lot in the business area to find a purchaser wa6 a section with frontages to Cuba' and Victoria Streets. This was bought, on- behalf of Messrs. Mack.v,' Logan,gnd Caldwell, Ltd., for £15,000, and it is the firm's intention to erect a warehouse on it. A section in Bowen Street was sold at £950, and the final sale was of a section in Adelaide Road, with a frontage of'lo6ft. 7in., on which are, erected three dwellings, This .was purchased by Mr. V. Jensen at.£2loo. The sale was held in the Chamber of Commerce, and attraoted a crowded attendance, which overflowed from the room into the passage beyond- Mr. A., A. Gellatly conducted the . sale, tho joint auctioneers being Messris. J. H.' Bethune -and Co., Harcourfc and Co., W. H. Turnbull and Co., and S. George Nathan. The auctioneers, and trustees are stated to be well satisfied with the 'result of the sale in view of the state of the property market and the disturbed commercial conditions consequent on the war. Ifc is hoped within the .next day or two to dispose of several more sections, for which there is active inquiry. . f ' The details of the sale were as follow:

lots 1, 2, and 3—Three eectiohs facing respectively Lambton Quay. Grey Street, and Featherston Street, "and adjoining on their back boundaries, Hie dimensions being: Section 33, having a frontage of 13ft. to Lambton Quay, ]>y depth of 61ft. and 59ft. Gin., width at rear 39ft, 6m, Section 51, having a frontage of 22ft. to Grey Street, by depths of 69ft. lOin. and- -41ft. Section 53, having a frontage of 34ft. to Featherston Street by depths of 47ft. 4iii. and 46ft. Bin. Bidding began at .£IB,OOO, and rose by ,£IOOO bids to iJ22,000, when the lots were passed in. The sections wero then offered separately, but wero not sold. Subsequently it was announced.that the three lot? had been sold privately by Mr. S. George Nathan to a purchaser at .£24,000 who did not wish his name to disclosed. Lot 4—(Three Frontages). Part of .Acre No. 459, having frontages of 42ft. llin. to Lainbton Quay, 95ft. to Mason's Steps, and 58ft. lin. to. The Terrace, the depth on the'north side being 107 ft. 7in. Passed in at ,£225 a foot. Lot s—Lambton Quay and Bowen Street, known as the Golden Rule Bazaar Section. Passed in as below reserve, Lot B—Bowen Street—Section 7 of Acre 491, having a frontage of 34ft. 4in. to Bowen Street by a depth of 63ft. 4in. and 87ft. 3in., with two-story 6-roomed residence, No. 19, thereon. Sold to Mr. Kemptliorno as agent at ,£950, Lot 7—Corner Victoria fnow Wakefield) and Cuba Streets (opp. Town Hall)— Sections 9, 10, 11, 12, and part 13, D.P. 828, having a total frontage to Wakefield Street of 149 ft. Gin, by a maximum depth of 100 ft. 4in., Section 9 also having 80ft. frontage to Cuba Street. Passed in at ,£l3O per foot for Sections 9, 10, and 11, and .£l2o.per foot for,\l2 and 13. Lot. B—Cuba and Corn hi 11 Streets—Lots 4 and 5 of Acre 210, having 63ft. Bin. frontage to Cuba Street by depths of 67ft. ljin. and 82ft. ljih, respectively, together with a block of land adjoining at the back containing.34,4 perches; part of Acres 209 and 210, having 127 ft.' 9in. frontage to Cornhill Street, and having on the north and west sides reserves for light and access 15ft. wide. Sold after > good competition to Messrs. Jfacky, Logan, and Caldwell, Ltd., for .£15,000.

Lot 9—Victoria (now ' Wakefield) and Tory Streets corner (opp. Te Aro Railway Station)— Part of Section 221, having 61ft. frontage to Wakefield Street and 100 ft. to Tory Street. Bidding stopped at £55 per foot, and section passed in. Lot 10—Fitzherbert Terrace and Murphy Street—Lots 1 and 3, part of Acres 591 and 592, containing 2 roods 24 perches, and having;, 66ft. frontage to each street. On Lot _3 is the large family residence, No. 47 Fitzherbert Terrace. Bidding commenced well and reached ,£5750, at whicli figure the section was passed in. Lots 11 and 12, 13 aJid 14—Two properties in Tinakori Road and two in Webb Street. Passed in, as the reserve was not reached. Lot 15—Adelaide Road, Part of Acre 725, having a frontage of 106 ft, 7in. to Adelaide Road by. depths of 80ft. and Sift, 7in„ with three o-roomed verandah, dwellings.thereon. Bidding commenced at .£ISOO, and after competition a sale was effected to Mr. V. Jensen at .Lot 16—Adelaide Road (one acre)— Acre 935, having 165 ft. frontagn to Adelaide Road by a depth of 264 ft„ and immediately opposite the end of Stoke Street. Bidding commenced at .£lO per foot and the section was passed in at J;l2 per foot. Lot 17—'''The Grange," Highland Park, i acres 0 roods 18 perclies, with the family residence. The highest bid was .£6OOO ' and at this figure the property was passed in. The remaining sections at .Wadestown tailed to find purchasers.