BUILDING PROGRESS.

Auckland Star, Volume LVII, Issue 251, 22 October 1926, Page 5

BUILDING PROGRESS.

A BIG PROPERTY DEAL CHANGES IN THE CITT. THE SHORTLAND STREET AREA. During the past two years a marked change has taken place "in the heart of the city,. and especially to that area, round about High Street, O'Connell Street and Shortland Street. The faces of these streets have been altered beyond recognition, and large, modern structures, providing accommodation for offices, have taken the place of old, delapidated buildings that were reminiscent of the early days when the sea reached the foot of Shortland Street.

In O'Connell Street new buildings line both sides of the street. Then in High Street the buildings are rapidly replacing the old structures that for years have stood out to force a narrow thoroughfare on the public. Here, however, shops are more sought after, and most of the new buildings are making provision for shop frontages that seem to hold a prediction that the time is not far distant when shops will open up on both sides of the street. The widening of this street will make an outlet that must relieve congestion in Queen Street. The face of Shortland Street is rapidly changing* too, and modern structures ?ive promise of better things to come. The new Commercial Hotel is a further indication of the advance in this direction. The shops beneath the hotel certainly make a big difference, and though taere are still many buildings in that street which can claim to have grown up with the city of Auckland, they are gradually giving place to modern structures.

£ 70,000 Property Deal. The latest proof that matters are shaping towards a definite end is a property deal which was completed yesterday. This is the purchase by the South Briitsli Insurance Company of the sample rooms and offices of L. D. Nathan Ltd., on the corner of Shortland and High Streets for £70,000. This price works out at about £790 per foot, the highest yet paid for property in this street. The property has been purchased by the company for it 3 own use, but no decision has been reached as to when it will take possession or whether it will have a new building erected. The company i s at present occupying a fourstorey leasehold building with. a. 30ft frontage to Queen Street and 40ft to Shortland Street, two doors from Nathan's block. The structure that has just been bought is on freehold property and has a frontage of 88ft Bin to Shortland Street and 60ft to Hi<*h Street. c

The site was purchased by "the late Mr. David Nathan at the first sale of sections in Auckland. Iα those days the sand used to encroach on the doorstep of the warehouse. The eeven-stcrey warehouse facing High Street is not included in the present purchase, and it is not yet known what is to become of it.

Messrs. W. M. B. Mowbray negotiated the sale on behalf of both parties.