COMMISSION ON SALE CLAIMED

Press, Volume CI, Issue 29950, 11 October 1962, Page 19

COMMISSION ON SALE CLAIMED

Beaths Building In Greymouth

Evidence in a claim for, commtetton on the sale of a Greymouth building was heard in the Magistrate's Court at Greymouth yererday before Mr K A Lee.

The Greymouth firm of Nanoarrow and Company, insurance, land and commission agents, claimed £387 10s from the Canterbury-based firm of Beath and Company as commission on the sale of Beetti’s building in Mackay street to Duncan Hardie, Ltd., furniture and wire mattress firm.

Mr C. R. McGinley, who appeared for plaintiffs, said that on February 23. 1960, Nancarrows received directions to sell Beaths building for £22,000. The property had been advertised for three months, • and during that period plaintiffs tried to sell the building io various parties.

The price of the property was subsequently reduced to £16,000. On April 27, 1961, Beath and Company decided to sell the building by public auction. Plaintiffs, however, endeavoured to sell the property to Fletcher Holdings, and the public auction was put off. Later, a Greymouth businessman Duncan Hardie, approached Beaths to rent the building. Late in September Beaths decided to lease the building to Hardie, this be*, tag arranged through Nancarrows.

On September 28 Nsncarrows reported to Beaths that the lease to Hardie wm for 12 months, during which time the lessee would endeavour to arrange for its purchase.

On October 31 last, Beaths notified Nancarrows that it had leased the building to Hardie for 12 months. On or about September 28 last year, after Hardie had approached Beaths, the latter firm had approached Nancarrows to help clinch the deal with the Greymouth businessman by soliciting Nancarrows, and Beaths had incurred the commission charge. Anthony lan Cottrell, solicitor, Christchurch, and a director of Beath and Company, Mid that early in De. cember Hardie had been to see him and had told him he would make an offer to purchase after arranging finance He later offered £15.000 Beaths subsequently accepted the terms and took a second mortgage on the building for a balance ot £B5OO.

The hearing will be resumed this morning.