Property market

Press, 26 November 1981, Page 21

Property market

Craigievar, the home of the late Mr Colin Lamb, a well-known Christchurch architect, sold at auction yesterday for $215,500. The 3425 sq m landscaped property at 127 Scarborough Road. Sumner.' has a Government valuation (1979) of $79,000.

The two-bedroom, permanent material house has an 8m lounge, a study, a breakfast room, and two bathrooms. Both the bedrooms, one of which has an adjoining dressing room, open on to a paved sundeck. Sheltered from the east and south, the terraced property faces north and has a view of the estuary and the sea to the Kaikouras. There is a twocar garage. Mr D. Rankin, of H. G. Livingstone. Ltd, was the auctioneer. About 1280 ha of Hitchin Hills, a well-known Scargill farm, was passed in at auction yesterday at $1,280,000. It was sold immediately afterwards to a neighbouring farmer.

The land consists of lOOha of river flats, 400 ha of wheel tractor country, with the balance in easy hill. The contour is from 198 m to 457 m on Ben Lomond. Watering is from natural springs, creeks, the Hurunui Riber, and the county water scheme. The land is planted in English grasses and clovers, lucerne, barley and pasture. Improvements include an implement shed, a woolshed, a 4-bay hayshed, and sheep and cattle yards. The land carries 7360 sheep and 401 cattle. Mr C. Hooper of Pyne, Gould, Guinness, Ltd, was the auctioneer.

An industrial section of 564 sq m plus an old two-storey weatherboard house and a concrete block building was passed in at auction on Wednesday at $46,500, “a bit below the reserve.”

The G.V. (1979) is $37,000. A spokesman for Matson and Allan Real Estate, said that the site, zoned Industrial 3, was ready for redevelopment, and was the last undeveloped site in the area. The concrete block building had been used for storage. Negotiations for the property began after the auction. Mr T. Templeton was the auctioneer.

No. 166 Fendalton Road, a four-bedroom roughcast house on a 1042 sq m section, was passed in at auction yesterday at $70,000, but sold privately immediately after. The G.V. (1980) is $48,000.

The house is iv 2 storeys, and has a drawing room, with a stone open fireplace, a living room, a separate dining room with a brick open fireplace, and a den. It is about 50 years old, and needing extensive renovations and repairs, according to the auctioneer, Mr Albert Sprott of Warwick Todd, Ltd. The property has a garageworkshop, and a carport. It could lose 5m off the front for road widening.

On Tuesday, Mr McCrostie successfully auctioned a small ownership flat at 71 Estuary Road, which sold for $19,000. The G.V. (1979) is $10,900. The flat has two bedrooms with built-in wardrobes, a shower, and a kitchenette.