Motor company’s sites unsold

Press, 22 November 1980, Page 6

Motor company’s sites unsold

I i Two Christchurch commercial properties owned by the New Zealand Motor Corporation were passed in at auction in Christchurch yesterday. The central city site, in Armagh Street, was passed in at $940,000, while the Sandyford Street. Sydenham, site ' was passed in at $440,000. Negotiations were continu-' ing after the auctions yesterday afternoon, with at least two buyers showing interest in each property,: according to a spokesman for the owners’ agents. Bidding was quiet but steady for both properties,. and about 30 people attend-

led the auctions, which were held at Noahs Hotel. The central property runs from Gloucester Street through to Armagh Street between Colombo Street and New Regent Street. It covers 4002 sq. m and has a Government valuation of $910.000. It is held in five major and four very minor titles, and is zoned Commercial 5. The Sydenham property fronts on to Sandyford Street and Battersea Street between Colombo Street and Durham Street, and covers 8090 sq. m of Industrial 3 land. It has a 1979 Government valuation of $485,000. The auctioneer was Mr Robert Brown, of Robert Brown Real Estate.