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THE YALETTA ESTATE

SUBDIVISION SALE HELD TO-DAY>

.LARGE ATTENDANCE — ..CAREFUL

HWARHA

ABOUT HALF THE LAND.SOLD

The largest and most important land, sale that- has taken place in the Ashburton County since the Laghmor subdivision took place in the Theatre ltoyal this afternoon, when Messrs Pyno find Company, in - conjunction with Messrs Dalgety and Company, Ltd., and the National Mortgage- and Agency Company, Limited, offered for

sale by public auction, on behalf of the trustees of the will of the lato Archdeacon Wilson, the well-known Yaletta estate.

The property has been in its present ownership for the last 34 years, and, it "comprises 9228 acres; but practically little cropping has been done, so that a large proportion of the land is in its virgin state. ' The soil is reported to be good, and the estate has been subdivided into 20 compact/ farms, con-

sisting of grazing runs, fattening farms, <md grain-growing blocks. Its situation is convenient, find the Mount Somers branch line . runs through a" section of the property, taking in the Valetta station. Good metalled roads are adjacent.

The terms of sale to-day were as follows: —15 per cent, deposit, 10

per cent, in 12 months, 10 per cent.; in. •two years, balance in seven years, with, the option, however, of paying off on.' six months' notice. The rate of inter-

est on all monies is at 5 per cent.' The trustees have also agreed to the following variation of the terms of puiy chase: "If the purchaser within one year erects a dwelling house and buildings to the extent of not k-ss than 10 per cent, of the purchase money, the 10 per cent, payable iv 12 months will not be called up, and will not be' repayable until the time for payment of the balance of the purchase money, plans of the buildings proposed to be erected to be submitted to the trustees." " ' ' " ■ ■"■- ' ' •

Between 500 and 600 persons were present at the sale. The lots were put up in tho following order: —

Lot 1 (Homestead), containing 646 acres I rood 32 perches.—The bidding commenced at £10, and rose in 10s bids to £11 10s. At this figure the owner's right was taken advantage of, and 5s was added. Other 5s bids were received,

bringing the price to £13 10s, at which, figure Mr T. B. Richards, of Valetta, became the purchase)'. Lot 2, containing 433 acres 23 perches.—Starting at £6. tho bidding ' rose immediately to £7. No further, advance being forthcoming,, tho let was passed in. Lot 3, containing 470 acres 3 roods 14 perches.—The* first bid was- £4 10s^, • and the succeeding bids were'£s 10s, £6 10s, but at the latter price the lot ■ was passed in. * Lot 4, containing 365 acres 2 roods 38 perches.—The initial figure was £8, < and after two bids of £1 and a succes-

sion of 10s bids had boon received, the property v:c.s sold to Mr W. Langdon, of Wosterfield," at,- £12 10s per, acre. The purchaser was givon tho option of taking Lot 5, contaiuius ,204^ acres,, at the samo price-, which ho decided to do.

Lot 6, containing 871 acres 2 roods , s--32 perches. —No bid was received. Lot 7, containing 428 acres 1 rood 15 perches. —The first offer received was £6 10s. The bidding then rose by a series of 10s bids to £8, at which price Mr C. White, of Banks Peninsula, became the purchaser. . Lot 8, containing 421 acres 2 roods 23 perches. — A start was made at £6 10s, and after increasing by 10s bids to ■ £7 10s. the lot wss withdrawn. Lot 9, confining 269 acres. 2 roods 11 perches.—The auctioneer got a first, "p-fl at £7. and the only subsequent bid received was one at £7 10s. The lot was not sold. Lot 10, containing 275 acres 1 ropd.7 perches.—The only bid received was £6, but th<>. auctioneer refused to start at that prioe. ■ Lot 11. containing 583 acres 0 roods 2 perches.—The bidding started at £6. The next bid was £6 10s, but tho property was not sold. ' Lot 12, containing GGI f acres 32 perches.—No bid was received. Lot 13, containing 408 acres 2o perches.—No bid was made. - Lot 14, containing 463 acres fc> perches.—Tho initial venture was £3, and rising by a number of 10s bids, tho price reached £4 10s. at which tho lot was passed in. Lo£ 15, containing 4G3 acres 3 roods 2 perches., was put up- with Lot 14; but was also passed, in. . Lot 16,-'containing'92l acres. 2 roods, 30 perches.-V.The best bid: waV"£4'os, ■ ". and ,tho lot was withdrawn. ,' Lot 17, containing 563 acres.-—£4 was the first and only bid. Tho property - was not sold. ; .

Lot 18. containing 31U acres M, rooas, .and' Lot' 19, containing 344 acres 2 roods, were, put up together.—A start was made at £5, arid the bidding roso as follows:— £6, £6 10s. £7,' £7 ss, £7 10s, £8, .and £8 10s.- Mr :G:. Harrison, of Anama, was the buyer at> tho last figure. He took lot 19 only. Lot 18 was then put up. and tho first | call was £5. The bidding reached,£6 15s, 'and the lot wan also sold to MiHarrison. ' o '' i Lot 20, containing 37 acres 3 roods 21 parches.—The only bid received .was; £S. and the 1 property was passed in. The trustees alsb put up their interest in the lease from the Canterbury College of a block of land containing -I,473'acres 17 perches, being Bes. Nos. 2254. 2255; and 2258. The- lease is . .dated May 29, 1902, and the land is j held for a'term of 14 years, at a yearly rental of Is 9d per acre: made in equal payments half-yearly,. in advance. —' Tho bidding started at £300/ aim roseby £50 bids to £Cso,and thence-in £10 bids to £800. and was then knocked down to .Mr James Cow.

Lots 12, 13, 14, 10. 16, and 17 were sold privately after the sale. The prices will appear in Monday's "Ouardian."

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG19140307.2.42

Bibliographic details

THE YALETTA ESTATE, Ashburton Guardian, Volume XXXIII, Issue 8812, 7 March 1914

Word Count
996

THE YALETTA ESTATE Ashburton Guardian, Volume XXXIII, Issue 8812, 7 March 1914

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