Hotel passed in

Press, 6 May 1981, Page 6

Hotel passed in

The Ambassador Private Hotel and its attached corner shop In Manchester Street, Christchurch, was passed In at auction yesterday at 8121.000, ■ According to the auctioneer, Mr A. W. Me-. Clelland, the top. bid was not far below the reserve,He said late yesterday afternoon that negotiations were continuing between the property's trustees and three prospective buyers. A sale was expected soon, and the two leading contenders intended to retain the property as a private hotel, The bidding started at 8100,000, and moved up by.

$5OOO jumps to Mr McClelland then confused the gallery by accepting a $lOOO bld and announcing it as $lll,OOO instead of $121,000. Another bid of $lOOO appeared to have been made, but he said after the auction that the bidders had recognised the passing in price as $121,000. The 1215 sq m property, zoned Industrial 3, is split into four titles, and has a Government valuation (1979) of $llO,OOO. It has been on the market at $150,000 since September last year when the owners, Mr Alex and Mrs Yvonne Taylor, closed the hotel

because they could not afford to convert it from gas to electricity. Mr Taylor died recently, and the hotel and shop were put up for auction by the trustees of his estate. Both Mr Taylor and Mr McClelland estimated the cost of reopening the Ambassador at $20,000, including the changeover to electricity. The 45ibefiroom hotel was built of double brick by the Sleeman family in 1928, and features polished woodwork and leadlight .windows, The bedrooms are small, however, and much of the original woodwork has been painted.