CITY PROPERTY SOLD

Press, Volume LXXIII, Issue 22245, 9 November 1937, Page 10

CITY PROPERTY SOLD

BUSINESS PREMISES IN ST, ASAPH STREET RESULT OF MERGER OF DAIRY COMPANIES

A quiet but steady demand exists, ;or investment purposes, for freehold properties situated within the business area of the city. During the last few months several sales have been effected, the latest one reported taking place a few days ago. The freehold which has just changed hands is the property formerly occupied by the Kiwi Dairy Company. Situated in St. Asaph street, the building is a modern, one-storey brick and concrete structure, with a frontage of approximately 70 feet. The property has a depth of 144 feet, running back to Belfast street, to which it has a frontage of 58 feet. It is understood it was purchased by a Christchurch firm. The price has not been disclosed, but it is understood that the figure was a fairly substantial one. The sale was arranged by Messrs Baker Bros., and Messrs Ford and Hadfield, Ltd., as agents in conjunction. Formerly owned by the Kiwi Dairy Company, the property came on the market through the recent merger of dairy companies, under which the Kiwi Company, together with the Mid-Canterbury and several other smaller companies, were purchased by the Tai Tapu ■ and Central dairy companies. The building is at present untenanted.