“PALMSIDE” SOLD
Company Buys Property The well-known North Canterbury station, “Palmside,” a freehold property of 3111 acres, has been sold to a newly-formed private company, Palmside Station. Ltd The property was passed in without a bid at public auction on March 14. when it was offered by the trustees of the estate of Mi J H. Rhodes.
The price paid for “Palmside" has not been disclosed, but the company has been registered with a capital of £25.000. When the property was offered in March, bidding wa s invited at £50.000. and this figure was reduced to £40.000 without a response. The latter figure was announced as several thousands below the Government valuation. The subscribers to the company are listed as C. B. Satterthwaite and D M. Satterthwaite (Amberley); J. S. McCaughan. P. M MaeShane, S. H. Wood. A M. Satterthwaite. G. H Wood. A C. Wood, and G. N. Hammett (Christchurch). “Palmside" consists of about 600 acres of flat and low downs, most of which is ploughable, and surface-sown tussock hills, subdivided into four main blocks When the property was offered for sale it carried 32>0 sheep and 160 cattle.
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https://paperspast.natlib.govt.nz/newspapers/CHP19620706.2.78
Bibliographic details
Press, Volume CI, Issue 29867, 6 July 1962, Page 10
Word Count
190“PALMSIDE” SOLD Press, Volume CI, Issue 29867, 6 July 1962, Page 10
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