SALE OF CITY PROPERTY.

Press, Volume LXIII, Issue 12968, 22 November 1907, Page 9

SALE OF CITY PROPERTY.

Tho salo yesterday at Mr Charles Clark's rooms of tho city section formerly occupied by tho Canterbury Tramway Company ns their offices, etc., having a frontage on Cathedral Square and "Worcester street, attracted a largo attendance. Tho salo was conducted by Messrs Dalgety and Company, and Mr Stewart acted as auctioneer. The pieco of land had a frontage of 80ft Sin on Cathedral Square and 256 ft oin on "Worcester street. The auctioneer, beforo asking for bids, said that tho property was ono of the most centrally-situated in Christchurch. Tho value of city property was on tho increase, becauso it was tho outlet of the largest nnd most prosperous agricultural district in New Zealand, having the largest stretch of first-class land in tho Dominion. The locality was evidently destined to bo the hub of tho business "portion of tho city. The property would havo como into tho market earlier had not thero been a lease to the TramwayCompany, which was just now expiring. I/ot 1. with 80ft Bin, on Cathedral Square and -10ft on AVbreester street, was then offered, with tho option to tho purchaser of taking any further amount ho might require "eastward at tho price ]>er foot frontage which tbo Cathedral Sqnaro frontage brought. Tho lot was put up at per foot frontago on Cathedral Square. A start was mado at £60 per foot, and bids at £5 each camo pretty rapidly till £8o per foot was reached, at which price it was withdrawn. Lot 2 was then offered, having a frontage of 40ft on Worcester street, with 80ft depth and 70ft Bin frontage on Tabart's right-of-way. A start was made at £50 per foot frontage on Worcester street, and at £65 ncr foot the lot was bought by Mr G. Jameson, who took the 40ft. Lot 3, with frontage on Worcester street, was then offered, and a starmade at £60 per foot frontage, and at this price the lot was withdrawn, ami tho whole property was then withdrawn.