SELLING CITY PROPERTIES.

Press, Volume LVII, Issue 17225, 16 August 1921, Page 8

SELLING CITY PROPERTIES.

; ,— u_ HOW £S4;000 WORTH WAS SOLD. To eell* a block of city buildings totalling- £54,000 in vaiue is 'quite an easy" matter when you can find a man with the necessary £54,000 in loose cash I —a 'Vara avis" these days. When Messrs Mosley and Sheppard, . Public Accountants,. Company Auditors and Estate Agents, were authorised to sell all the buildings from Messrs Steel Bros.' premises in Colombo street down v to Cashel street and around the corner - to v and including the premises occupied "" bv Messrs .Dennis Bros., there was one '' stipulation made by the vendors, The i Boikeley Investment Coy. Ltd., and ■ that was to the effect'that the property ,r- was to" be sold as a block at one sale. ■' Henoojthe necessity for 1 the man with the £54,000. Messrs Mosley and Shep- ' pard overcame "the difficulty with their usual enterprise and energy in this way. - The interested tenants were virtually organised into a> co-operative buying syndicate .-and the sale effected by theii purchasing the different properties as Sbli&hed in our columns last Saturday. e credit of the skilful handling of this • important property sale to the satisfac- > tion of all parties concerned rests with Messrs Mosley and Sheppard and speaks volumes for their tact and business acumen in r handling important sales ot. this nature. —6 - The; Reserves Committee reported to the City Council last'night that the Crown Lodge had agreedto exchange the section purchased by it at the corner of Wordsworth and Queen streetß for a similar area in the same block facing, Woidsworth street, adjoining the right-of-way. and near Colon? fin street. The committee recommended that steps be taken to effect the exohange, and that the block be temporjnr/ fenced and laid down in grass. Or. J. K. Archer regretted that the CtoareO had not retained tha whole Mock for the children's playground. However, the thanks, of the Council were duo to the Crown Lodge for agreeing to the exchange. The Coun- - cu endorsed the report.