SEASIDE SECTIONS SOLD.

Auckland Star, Volume XLVI, Issue 71, 24 March 1915, Page 6

SEASIDE SECTIONS SOLD.

Nothwithstanding the fact that the war has created a general tightness of money, there was no lack of buyers for' seaside sections offered for sale in Auckland to-day. So brisk was the bidding that 20 sections were disposed of in less than an hour from the time the auction opened. The land offered was the Balmoral Estate, which lies between Castor Bay and Campbell's Bay, to the North of Takapuna, and fronts Rangitoto Channel. The total sea frontage disposed of measured 3,300 ft, and, in addition, over sections lying behind those with the sea frontages were offered.

Messrs Richard Arthur and Co.. who were entrusted with the sale, offered the sections upon easy terms—£l deposit was sufficient to secure a section, and the vendors offered to allow the principle to be wiped out at £1 a month at 5 per cent, provided that the balance was cleared in five years; as an alternative buyers could pay £5 deposit and clear the remainder in five years at five per cent.

From the commencement bidding was brisk. For the purposes of the sale the estate was divided into five portions. The first portion to be sold was No. 2, comprising 26 cliff sections on a sea frontage of 3,300 ft. The land stretched from a few sections below the road leading down to Campbell Beach, on the north, nearly to the road leading down to Castor Oil Reach on the south, and had a frontage to Huntly Road.

The buyer of the first section had the advantage of the' want of confidence of •the bidders. A ninetyJone foot frontage with a depth of sSsft, (realised 32/6 a foot, bidding «nnn?encing at a pound. The next lot. 'with only a depth ocf 510 ft, created brisk calls m om all parts of the hall, and was finally knocked down in about a minute and a-half at £2 per foot. Eigilit Biiocaßßive sections- fluctuated berfcween' 23/ and 37/, the lowest figure being obtained for a section of 122 ft by 390 ft. This proved to be "the 'bottom figure of the sale. Prices steadfly rose as the Campbell Beach end was neared, and tine fast three lots realised 40/, 40/, and! 44/ meepectively. One of the 40/ sections had a depth, of 690 ft, and the other of 820 ft, with 100 ft frontages, while the highest-priced section measured 88ft by 690 ft.

In the block fronting Aberdeen Road and Huntly Road 16 sections, ranging from 16/0 to 28/ a foot, were sold; on the Aberdeen Road frontage, in the opposite block, four, ranging from 16/ to 24/, were disposed of, and five fronting Hnntly Road fetched from 11/ to 26/; on the Kildrumnrie Road frontage 16 sections, ranging from 15/ to 21/, were knocked down; and on Braemar, Castor Bay, and the main road others were sold at from 9/ to 23/. Altogether 85 sections were sold.