Sherwood run passed in

Press, 4 March 1978, Page 3

Sherwood run passed in

Sherwood, a grazing and ’ fattening property of 980 ha ’ freehold and 401 ha leasehold, about 14 km from ! Waiau, in North Canterbury, was passed in at $530,000 when it was offered for sale , by auction in Christchurch yesterday. Between 100 and 150 persons attended the auction, in the Cambridge Room in the Town Hall: Bidding for the property which had a Government valuation in 1975 of $468,000, began at $480,000 and rose by $lO,OOO bids to $52,000, after which $5OOO j bids were accepted. Mr Michael Johnston, head auctioneer for Pyne, Gould, Guinness Ltd, said when the property was passed in that the reserve had not quite been reached. ;

Afterwards, negotiations were reported to be proceed ing. The property was offered by Pyne’s and Wrightson: NMA, Ltd, for Sherwood) Fann (Waiau) Ltd, and P. I. Burbury, Ltd. i The property includes! what was described as a! stately home — a two-storey [ residence built in 1912 with) a dining room, four living) rooms, eight bedrooms, three bathrooms and a large kitchen. It has lOin-thick concrete walls. Also included were a manager’s four-bed-room house, and two threebedroom cottages. The purchaser is required to take over stock and plant) at a predetermined valu-; ation. This totals more than $167,000, including more) than $126,000 for 5323 sheep and 972 cattle.