AUCTION SALE OF THEATRE

Press, Volume XC, Issue 27491, 27 October 1954, Page 10

AUCTION SALE OF THEATRE

BUILDING PASSED IN AT £33,500 BREWERY DEPOT SOLD FOR £?750 The St. James’ Theatre in Tuam street was passed in at £33,500 when it was offered for sale by auction in Christchurch yesterday afternoon, on account of Messrs John FuUer and Sons, Ltd. The auctioneer sought to start the bidding at £35,000, but he had to start the sale at £29,000. Four bids, each of £lOOO, took the price to £33,000, and a further bid of £5OO was received before the property was passed A condition of the sale was that the building or any other building subsequently erected on the site should net be used as a theatre or for any form of entertainment, including the showing of “television pictures.” The purchaser will be required to sign a covenant giving this undertaking. The theatre, which stands on 1 rood ;2.9 perches of land, with a frontage of 71 feet to Tuam street, has a ground floor area of about 10,890 square feet. Rates on the property are £347, and it is insured for £30,000. About 40 or 50 persons attended the sale. The Bath street depot of New Zealand Breweries, Ltd., was sold at auction yesterday afternoon for £7750. The depot stands on 50.5 perches of land. The auctioneer received five bids of £250 each after the first offer of £6500. About a dozen persons attended the sale. The buyers of the depot, John Chambers and Son, Ltd., intend to use the property for future expansion. History of Depot New Zealand Breweries, Ltd., bought the property in 1921 from Union Breweries, which had operated there since 1889. It was formerly owned by a partnership consisting of Messrs F. Hickmott, G. Hickmott, and W. Vincent.

Mr Vincent had established a brewery in the area in 1861, and his interest was bought by his partners. Since 1921 the property has been a depot for New Zealand Breweries. A bungalow in Centaurus road, Cashmere, was sold at auction yesterday afternoon for £2750. The house is built on an elevated section of about 30 perches. It has two living-rooms and two bedrooms.