PROPERTY AT WAIPARA

Press, Volume LXXXI, Issue 24653, 24 August 1945, Page 7

PROPERTY AT WAIPARA

APPROVAL FOR SALE SOUGHT Approval for the sale of a property at Waipara by Albert Shepherd George to Gordon Keith Ower, was sought before the Canterbury Rural Land Sales Committee yesterday. The property comprised a seven-roomed dwelling and 835 acres of freehold land, which had been run with IS6 acres of railway reserve at a rental of £4B 10s per annum. The price sought for the freehold land by the vendor was £10,856 9s 3d, or £l3 an acre. The Crown valuation was £8477 or £lO an acre, and the roll valuation in 1942 fixed the value at £5925 or £7 per acre. It was stated that the stock at present being carried on the freehold and leasehold property comprised 1300 ewes and ewe hoggets. Mr G. Wright, valuing for the vendor, fixed the price at £11,251 13s 4d or £l3 9s an acre; and the value fixed by Mr H. G. Parish, also valuing ior the vendor, was £11,733 8s 6d or £l4 an acre. In arriving at these figures, both Mr Wright and Mr Parish had deducted not only the rent of the railway reserve, but also the rental capitalised at 4J per cent. Mr Wright based his budget on 1550 sheep, fattening 160 bought-in lambs and selling 750 bushels of oats. Mr Parish’s budget was based on 1622 sheep, fattening 400 bought-in lambs, and selling 900 bushels of oats. Mr H, G. Martin, who valued the property for the Crown, based his budget on 1314 sheep and the sale of 20 tons of chaff. This budget was on the freehold land only. , . The committee reserved its decision pending an investigation of the property.