SALE OF LEASES.

Pukekohe & Waiuku Times, Volume 3, Issue 199, 29 May 1914, Page 2

SALE OF LEASES.

Railway Sections in Pukekohe. High Prices Realised.

Yesterday there vnub an attendance of over 100 people al the salo in King street, Pukcltohe, when the leans of business bites in King street, and six in Manukau road, were sold by auction. These sections are the property of tha Railway Department, The leases are for 21 years with the right of renewal upon valuation if not required by the Department for railway purposes. In the event of the letse being resold at the ond of the term the incoming tenant is to pay to the outgoirg tenant the value of the improvements. But if the Railway Department resumes posaessinn of the land compensation for improvements will not be paid. Messrs R Carr and Son were the auctioneers. Bidding was fairly spirited throughout and the prices realised wero regarded as high. KING SIRLLT SECTIONS. Lot it, 38 loot frontage, containing IS poles was first submitted. Mr C. K. Lawrie a office stands partly upon this sile. Bidding began at £ls, the upset price, and was finally knocked down »o Mr Lawric at £25. This works out at something more than Lis per fool per annum, but there is very little depth to the sectior. I.coked at in another way an cf ground at Ibis rate would produce £1325 in rent each year. Lot 10, 35 loot frontage, had an upset j):ics of £l!l, area 8 poles, bidding went to £32 ilßs 3d per foot per annum) at which price it was knocked down to Mr Ivan Motion, Lut 11, 51 feet (i Inches frontage, upset rental £33. Improvements to the value of £52 hail to be paid Rtor. Area, 1!) poles, There was a silt' li<ht for possession of this piece, but Mr J. A. Comrie secured it at £54 (£1 Is 2d per foot). Lot 12, li feet 3 inch frontage, upset price £ll, area (! poles. Merc again there was hot competition, the section linally fulling to Mr J. G. Haddow at £2B (£J 12s 5d per foot . The sum of £lB had to te paid for improvements. Lot 13, 42 feet frontage, area 17 poles, upset price £25. The sum of £2OO to be paid for improvements appeared to effectively check competition, and there was no challenge to the first and only bid, by Mr Albert Speneer, of Auckland, of £3O (14s 3d per loot). Lot 14, 22 foot frontage, 1) poles. Although started at the upset price, £l4, this section quickly leaped to £27 (£1 4s (id per fuot), Mr C. Roadley being tne buyer. Lot 15, 22 feol frontage, area !) pales, carried .£55 improvements to be paid for. Mr C. Roadley also got this section, £26 ,£1 3s 7d per foot).

Lot 1G was the biggtat aection, containing 1 rood 30 poles. It runs along the back of the other sections and has a twenty foot entrance wav between Mr Lawrlo's section and the railway liae. That is to say, it has a 20 foot irontage to King street. Bidding started nt £l2, the upset price, and ran to £33, being taken by Mr S. 11. Gallagher. MANUKAU ROAD. Lot 22, :J0 foot frontage, area 11 poles, upset £l2. Mr W, Roulston £lB 'l2s per foot). Lot 21, 'SO foot frontage, 10 poles, upset £l2. Mr J. G. daddow £IG vlOs 8d per toot . Lot 20, 30 foot frontage, 8 poles, upset £l2, Mr F.Brown and others, £l7 (lis 4d pw foot . Lot 19, 30 foot frontage, G poles, upset £ll. Mr Frank O'Connor £lB 12s per foot). Lot 18, 30 foot frontage, I pjles, upset £ll. Mr F, Mrown and others .iilG v los 8d per foot). 1 lie last section offered was tho one nearest the East street bridge, lot 17. It has a frontage of G3 feet, contains 4 poles, upset £ls. The A. and P. Society secured this lot lor £ls, it luiti? the intention of the executive to have their cilice in a central position and still as near as possible to the new showgrounds.