PURCHASE OF WAIRAKEI

Dominion, Volume 13, Issue 17, 15 October 1919, Page 10

PURCHASE OF WAIRAKEI

FAMOUS THERMAL DISTRICT. NEW COMPANY "WILL MAKE EXTENSIVE IMPROVEMENTS. ■■ A company with a capital of i£loo,ooo, under the name of Wairakei Ltd., which has bean formed and registered in Auckland, has acquired the famous Wairakei Estate. This property, situated on the Rotorua-Taupo-Napicr road, has been in possession of the Graham family for nearly 40 years. It is about 50 miles from Rotorua aud oix milc3 from Taupo. The estate contains tho most remarkable collection of thermal wonders in tho world, including the Wairakei Gcyeer, tho Champaguo Cauldron, the Karapiti Blowhole, and tho Huka Palls; and in addition to the Geyser Yalloy Hotel tho property embraces ovw 4000 acres of land. The Waikato River is one of the boundaries, and at this point it affords some of tho best fishing obtainable in New Zealand.

It is proposed by the- company to devoto ,£50,000 to tho development of the property. Tho company's proposals provide for (he erection tf an up-to-date hotel .capable of accommodating 200 guests, tho formation of golf links, tennis courts, bowling greens, thß building of modern bath-houses, and penorally making overy provision for tho .pleasure of tho tourist, sportsman, and healthseeker.

Preliminary surveys of a township have also been made, and it is proposed to offer sections to tho public at a later date. The township is intended to be formed in accordance with iho most modern principles of town-plao/iing, and will be an important part of the- scheme; in fact, tho promoters hope to make Wairakei ultimately into a resort similar to Eotorua, only upon a jmwli more elaborato scale, as tno marvels and "thermal wendora of Wairalcai are acknowledged to bo far ahead of those of Eotorua. The Taupo Tdtara Timber Company's ljno is within 14 miles of Wairakei, and when this is complete lo Taupo tho journey from Auckland to Wairakei by rail should tako nino hours.

About one-fourth of tne. capital lias been allotted to Australian shareholders, tho balance being Teserved for investors in tho Dominion. A total of over 60,000 shares'have already been allotted. The provisional directors are Mr. J. E. Eced, K.C., Dr. 11. M. Deattio, nnd Mt. J. Eollcston, OG tho Grand Hotel, Auckland. Tho company's temporary office at Wellington is 157 Feathorston Street, caro Messrs. Clere and William. l !, architects.— (Published by arrangement.)