PROPERTY SOLD

Press, Volume CVIII, Issue 31724, 6 July 1968, Page 12

PROPERTY SOLD

Robt Francis Biulding The Para Rubber Company, Ltd, had bought, for slightly less than $70,000, the Robert Francis building at the corner of High Street and Taum Street, said the managing director of Para Rubber (Mr D. Davies) yesterday. Mr Davies said that his firm, had bought the three storey building “with a long range view,” of future development. Para Rubber, he said, would not occupy the ground floor for another 10 years. At present, Para Rubber occupied the ground floor of an adjoining building. Mr Davies said that his firm, a subsidiary of Skellerup Industries, Ltd, did not have any intention, at the moment of rebuilding on the site. “We will have the upper floors, for the use of Skellerup clothing and rubber factories,” he said. “They will probably use it We will probably be using some of the first floor for our storage and suchlike.” The ground floor of the building, he said, was at present occupied by a furniture shop, and Robert Francis’ main branch. The upper floors had recently been occupied by Robert Francis, but this firm’s head office had been transferred to Masterton, when the firm was taken over by N. R. Cunningham, Ltd. The building has about 19,500 ft of floor space.

The property was passed in at $70,000, when it was offered for sale at public auction on April 10. It was subsequently bought by Para Rubber by private sale. The agents were Ford and Hadfield, Ltd.