Page 8 Advertisements Column 3

New Zealand Times, Volume XXXII, Issue 5147, 21 September 1877, Page 8

Auctions WEDNESDAY, 26th SEPTEMBER., VALUABLE CITY FREEHOLDS. THE GIBSON ESTATE. ! WFINNIMORE will sell by public auc- , tion at the Odd Fellows’ Hall, Lambton-quay, on Wednesday, 26th September, at 2 p.m., by instructions. from Messrs B. Smith & Co.— ALL THAT VERY VALUABLE BLOCK OF LAND, &c,, a portion of the estate of the late John Gibson,, being those desirable properties on the south side of Manners-street, extending from the Wesleyan Church towards Willis street, and comprising about FIVE HUNDRED FEET OF MOST VALUALE FRONTAGES, with all the Shops and Buildings thereon, as under ; Lot I—That valuable freehold having a frontage of 10ft. to Manners-street, by a depth of 57ft. 6in., adjoining the Wesleyan Church, subject to a certain deed of lease, bearing date 20th December, 1860, for 24 years and 9 months, at a rental of £1 per annum, expiring on the 29th September, 1885. Lot 2—That valuable freehold property having a frontage of 51ft. 6in. to Mannersstreet, by a depth of 113 ft., together with all the shops, buildings, and erections thereon, now in the occupation of Messrs. Simeon and others, subject to a certain deed of lease, bearing date 25th December, 1860, for 24 years and 9 months, at a rental of £35 10s. per annum, expiring on the 29th September, 1885. Lot 3—That valuable freehold property having a frontage of 62ft. 6in. to Mannersstreet, by a depth of 134 ft. 6in„ together with all shops and buildings, &c., now standing thereon, in the occupation of Messrs. Helyer and Petford, subject to a certain deed of lease bearing date 25th December, 1864, for 14 years, at a rental of £4O per annum, expiring 25th December, 1878. Lot 4—That valuable freehold property having a frontage of 35ft. to Manners-street, by a depth of 147ft.,' together with the shops and buildings, now in the occupation of Mr. James Huxley, subject to a certain deed of lease bearing date Ist April, 1876, for ten years, at a rental of £SO per annum, expiring Ist April, 1886. ' Lot s—That valuable freehold property having a frontage of 24ft. to Mannersstreet, by a depth of 66ft. 6in., with all shops and buildings thereon, now in the occupation of Mr. Kingswell, subject to a certain deed of lease bearing date 29th September, 1856, for 999 years, at an annual rental of £lB per annum, expiring 29th September, 2855. Lot 6—That valuable freehold property having a frontage of 65ft. to Mannersstreet by a depth of 111 ft., together with all the shops and buildings thereon, now in the possession of Messrs Reid, Love, and others, subject to a certain deed of lease bearing date Ist January, 1874, for 10 years, at an annual rental of £BO per annum, expiring Ist January, 1884. Lot 7 —That valuable freehold property, having a frontage of 42ft. to Mannersstreet by a depth of 140 ft.,‘ with the foundry, shops, and buildings, now in the occupation of Mr. John Smith, subject to a certain deed of lease bearing date ‘/9th September, 1860, for 21 years and 3 months, at an animal rental of £35 10s., expiring 25th December, 1881. Lot B—That valuable freehold property, hav-, ing a frontage of 28ft. to Mannersstreet by a depth of 143 ft., with the shop and buildings, now in the occupation of Mr. Walker, subject to a certain deed of lease bearing date 29th September, 1860, for 21 years and 3 months, at an annual rental of £2l per annum, expiring 25th December, 1881. Lot 9—That valuable freehold property, having a frontage of 28ft. to Mannersstreet' by a depth of 143 ft., with the shop and buildings, now in the occupation of Mr. Martin; subject to a certain deed of lease bearing date 11th . April, 1865, for 14 years, at an annual rental of £35 per annum, expiring 11th April, 1879. Lot 10—That valuable freehold property, having a frontage of 18 ft. to Mannersstreet by a depth of 105 ft., with the shop and buildings, now in the occupation of Mr. Dempsey, subject to a certain deed of lease bearing date 22nd August, 1867, for 14 years, at an annual rental of £2O per annum, expiring 22nd August, 1881. Lot 11—That valuable freehold property, having a frontage of 52ft. to Mannersstreet by a depth of 94ft., together with the shop and buildings in the occupatiog of Mr. F. Cooper, subject to a certain deed of lease bearing date 24th June, 1867, for fourteen years, at an annual rental of £3O per annum, expir- ■ ing 24th June, 1881. In introducing this magnificent property, the Auctioneer deems it unnecessary to comment upon its commanding COMMERCIAL POSITION ; but he may be permitted' to point out a few incontrovertible facts which, in themselves, prove the advantages to be derived from an investment therein: — Ist. Its being situated in the very heart of the city proper, where it is always difficult to obtain good building sites. 2nd. The enormous traffic now existing and daily increasing from the establishment of steam factories, foundries, corn and flour mills, &c., and other great producing works along the same line of street. 3rd. Its whole frontage being on the main outlet from Custom House-quay, the west end, and Lambton-quay, to the most populous and rapidly-rising parts of the city, extending to Newtown and on to that fine and healthy suburb Kilbimie. It is hardly necessary either to refer to what is no doubt generally known, that within the past few weeks land in Manners-street not built upon, and not so centrally situated, has been let on building lease for fourteen years at £5 per foot, thus representing a present freehold value of £IOO per foot, without interest, on the buildings erected. This will give some faint idea of the present value of laud in this street. ■ . . The fine and handsomely finished building recently erected by the BANK OF NEW ZEALAND, to be opened in a few days, suffi-, ciently indicates the vast importance attached to the street for business sites, and as growing and becoming for all time a solid basis and centre of operation. The erection in the same street of that massive and extensive structure THE THEATRE ROYAL, points to a day not far distant when it will be impossible to obtain one foot of Freehold in the vicinity unless at a fabulous price. The ARCADE.—That extensive Block of Building now being erected by Mr. F. Sidey and immediately facing the centre of the Gibson Estate, will of itself create an immense extra amount of traffic, and considerably enhance the value of all property contiguous thereto. FINALLY The vast importance of securing a part of this most valuable freehold property can hardly be estimated in the growing prosperity of that magnificent future which awaits the capital of this rich and prosperous colony. Wellington must, from its geographical position, in a short time become the great emporium of commerce, hot only for these islands, but also for those of the South Seas. TERMS—--25 per cent, cash ; 25 per cent, by bills at 3, 6,9, and 12 months, at 5 per cent.; balance on mortgage for five years, at 7 per cent. Lithographed plans of the property can bo obtained of Messrs. B. Smith and Co, or of the Auctioneer, at his office, Lambton-quay, adjoining the Bank of New Zealand.