QUEEN STREET SALE.

Auckland Star, Volume LVI, Issue 189, 12 August 1925, Page 8

QUEEN STREET SALE.

£26,000 FOR 30FT. FRONTAGE

ON CORNER OF SWANSON STREET.

- -t Another. gale has just been completed t of a property fronting Queen street. , Mr. W. S. Ralph, land agent, acting on i behalf of the purchasing syndicate, negotiated wrth the Public Trustee, as agent for the vendors, the sale of a, property at ' the corner of Queen and Swanson Streets, in the estate of the late 3lr. O'Neill. The property has a frontage of 30ft 9in 'to Queen Street, and 50ft to Swansoii Street. On the sectioil is a three-storey brick building, ■ occupied ' for many years on lease by B. J. M. Kemp, Ltd. For a long period Hamilton Brothers had a chemist's shop at this corner. ' An illustration of how the times have changed, and values altered, is the fact that prior to the erection of the present building Messrs. Vicars and Hull (Mr. Francis Hull), sharebrokers, rented the two-storeyed wooden block pn the site for £2 10/ per week. The price at which the property Changed hands is £20,000. The property was let on a long lease at what is now a low rental, and there are still a few years to run. When this is capitalised, the price works out at about £1000 per foot. The owners are at present in England, being the sons of Mr. O'Neill, after whom O'Neill's Point was named.