CITY PROPERTY VALUES INCREASING

Press, Issue 30997, 1 March 1966, Page 25

CITY PROPERTY VALUES INCREASING

A block of flats in the West End of Christchurch was recently sold for £39,000, «1though the Govt. Valuation was only £15,000. Now a property in Moorhouse ave., opposite the Station, with back entrance to Mortimer place, has come on the market at a price that could easily show a profit of over £5OOO by a resale in a few months. Situated opposite the Railway Station, such a valuable central site seldom appears for sale. There are two brick buildings on it .the one on Mortimer place being about eight years old, while the frontage on Moorhouse ave. of 132 feet lends itself to the building of a magnificent warehouse or manufacturing concern. The central position assures easy staffing and distribution of goods to city, suburbs and country districts. This property is priced for a quick sale at £26,500 and could be resold for possibly £35,000, which is nearer to its true value today. A. E. Barrell and Co. M.R.E.1.N.Z., are agents and particulars of rates, insurances, measurements, etc., are available to prospective buyers any time from F. W. Stevens of 2 Ulster place, City. Tel. 64-718. —Advt.