Patea Land Sale.

Patea Mail, 23 January 1882, Page 3

Patea Land Sale.

Mr W*. Cowem reports:—l held a land sale on Saturday at my warehouse, Patea, the attendance being very large, and the bidding spirited for leaseholds. The great attraction was the harbor leases for 21 years, the sections being strips of river foreshore suitable for grazing, dairying, or manufactories. These leases will yield to the Board a total rental over £260 a year, which for the term represents a large capital value. A five acre section for brickmaking purposes sold at £l6 annual rental to Mr Bush. Subjoined are the ections, purchasers, and prices. Sections 28 and 26, Whenuakura Block, Mr Wood, £SB per annum. Sub-section 8, block 131, Patea, o ’ ■ acres 16' perches, Mr Bush, £l6 per acre. Sub-section 7, block 131, Patea, 5 acres 2 roods, Mr G. Boagey, .. i £3 2s 6d per acre. Sub-section 6. block 131, Patea, 5 acres 1 rood, Mr Daniells, £1 12s per acre. Sub-section 5, block 131, Patea, 6 acres; 2 roods/ Mr Gane, £2 5s per acre. Sub-section; 4, block 131, Patea, 4 acres 1 rood, Mr Saunders, £1 10s per acre. Sub-section 1, block 75, Patea, 2 acres 2 roods 16 perches, Mr Sherwood, £1 10s per acre. Sub-section 2, block 75, Patea, 14 acres 2 roods, Mr Sherwood, £1 14s per acre. Sub-section 3, block 76, Patea, 19 acres 3 roods, Mr Chapman, £1 15s per acre. Section 6, block 30, Patea, Mr G. U. Hamertou, £7 10s per annum. Section 7, block 30, Mr J. Gibson, £ll per annum. Several freeholds in and near Patea were offered. The absence of bidding showed that these properties are not in demand, though ; the value ; was recognised. Some Patea leaseholds were offered. . Only vonej was sold, near M’Carty & Hunger’s workshop, at 10s per foot rental; and another next to the Mail office has been .disposed, of at 14s i fidlpef. 'folbt£ rental. The Jsectionsoffered on deferred, payment; for-working men did hot sell in tne room, but two were taken up after, and the inquiries made show that, the conditions under which they were to_be sold were not clearly understood by the class of persons to whom the-advertisement was addressed. The result of the sale as a whole was eminently satisfactory, as showing increaismg confidence in. the town and district. Other properties have been quitted'sinbe-the sale. w