"UNDER THE HAMMER."

Dominion, Volume 1, Issue 150, 19 March 1908, Page 10

"UNDER THE HAMMER."

RHODES ESTATE PROPERTIES AT AUCTION. SHY INVESTORS. One of the most important auction sales of city properties hold for some time took placo at Messrs. W. H. Turhbull and Co.'s rooms, Panama Street, yesterday afternoon, when real estate approximating in valuo something liko half a pillion sterling was offored at public auction. Tho various lots offered comprised freehold properties in tho Rhodes Estate, and among thorn woro somo of tho most valuablo business sites in tho city. There was a largo and representative attendance of tho investing public, but capitalists wcro shy, and all tho lots, oxcept two, were withdrawn, a circumstance ascribed by somo of thoso present to tho tightness of money, and by others to tho fact that, in their opinion, the rcservo prico was too high. In view of tho importanco of the sale, and as an indication of tho financial and real estate barometer, tho bids in the following are given in'i detail. V The first lots offered were tho Kerosene Bond sites, a little beyond tho Thorndon Esplanade, on tho Main Hutt Road. Theso were auctioned as follow:— Section 151—94 ft. frontage. . Bidding per. foot—£2o, £25, £30, £31, £32, £33, £34. Withdrawn. Section 150—93 ft. Sin. frontago. Bidding per foot—£2s, £30, £32. Withdrawn. Section 149 —94ft. frontage. Bidding per foot—£2s. Withdrawn. Section 148—99 ft. frontage. No bids. Section 147—111 ft. Tin. frontage. -No bids. Section 146—157 ft. oin.'frontage. Bidding per foot—£ls, £17, £18, £19, £20, £21, £22. Withdrawn,., Tho remaining lots, taken in their- catalogued order, were a«cti<jned as follow: — ■ Lot .I.—Lambton Quay: V/acant section, No. 38, reclaimed land; area, 8. perches; frontago to Lambton Quay, 43ft.; depths, 61ft. and 59ft. Gin.; width at the rear, 39ft. Gin. Tho section is situated bctweeii the Wellington Trust and Loan Company's now building and the site of the Union Bank's new promises. Bidding per foot —£300, £325, £350, /1360, £370. Withdrawn. Lot 2. —Lambton Quay: Part of section .491, the site of the " Golden Rule " Bazaar, opposite Government Buildingsfrontago to tho Quay, 47ft. lOin.; to Bowen Street, 65ft.; depths, 108 ft. lOin. and 154 ft. 2in. Bidding , per foot—£lso, £160, £170, £180, £190, £200. Withdrawn. Lot 3. —Lambton Quay: The "Blue Houso" site, with frontages of 95ft.: to Mason's Stops, 58ft. lin. to the Terrace, and 42ft. llin. to Lambton Quay. Bidding per foot— £200, £225, £250, £260, £270.' Withdrawn. Lot 4.—Thorndon Quay: Adjoining Mr. Owen Daly's premises, opposite the Government Railway Station; frontage, 28ft.; depths, l-60ft. and 147 ft. Bidding per foot — £30, £32, £34, £36, £38, £40. Sold. Purchaser—Mr. Owen Daly, contractor, £1120. Lot 5. —Victoria Street, opposite the Town Hall,, and adjoining the premises of tho Palmer Engineering; Company: Frontage; 47ft. 6in.; depths, 73ft. Tin. and 100 ft. 4m. Bidding per foot-£IOO, - £110, £120, £130, £140. Withdrawn. ' Lot s.—Corner of Cuba Street Extension and, Victoria Street, opposite tho Town Hall, at the rear of the Opera Houso: Frontage to Victoria Street, 102 ft.; to Cuba Street,' 80ft.; depth on the west, 73ft. llin. Bidding por foot—£loo, £110, £120, £130, £140, £150, £155, £160, £165. ' Withdrawn. Lot 6. —Corner of Victoria Street and Tory Street, opposite Te Aro Station: Frontago to Victoria Street, 61ft.; to Tory 'Street, 17oft. This comprised two allotments, and'was first submitted as one lot. £100, £110, £120. Withdrawn.' Tho two allotments were then offered separately, the rear' section,'of 75ft. -2in. frontage to Tory Street, boing taken first. Bidding per foot—£4s, £50, Sold. Purchasers—A. G. Shacklock and Co., Ltd., range-makers, Dunedin. Tho front section was withdrawn at £55 per foot. Lot 7. —Cuba Street Extension, below the Bank of New, Zealand(To "Aro branch): Frontago,' 31ft. lOin.dopth, 67ft. 2lin. 'Bidding per foot—£loo, £110, £120, £130, £140. Withdrawn.

Lot B.—Grey/•' Street; .< adjoining' '.Messrs. Young arid Tripe's building: Frontage, 22ft. -Bidding per foot—£2oo, £225, £250. Withdrawn'. " ' . 1' '• '.'-■ '

Lot 9.—Fcatherstoii Street,- between Union Bank sito. and' Messrs.. .Young and Tripe's building: Frontage, 34ft. t Bidding per foot— £200, £225. -Withdrawn; ... Lot 10.—Bowon or ICumutoto Street, adjoining the "Golden Rule Bazaar" site. : Frontage, 34ft. 4in. Bidding, per lot—£looo, then by: successive £25 bids to £1600, when it was withdrawn. ' ....

Lot 10. —Tinakori Road and Lowisville Terrace (oorner section;.- Frontage to Tinakori Road, 65ft. 6ih.; to Lewisvillo Terrace, 93ft. 9in. Bidding per fcot—£2o, £25. Withdrawn.

Lot 11.—Tinakori Road (the old Karori Hotel site). Frontago, 49ft. 6in. Bidding per foot—£2o, £22, £24, £26, £28.. Withdrawn. 1 i.

. Lot 12.—rFitzherbert Terraco and Murphy Street. Two' sections. No. 1 (Fitzhorbert Terraco), 66ft. frontago;" No. 2 (Murphy Streot), 66ft. frontago.' - Tiro initial bid from the auctioneer of £5000 for the'lots was: not taken up,"and the property was withdrawn. Lot V). —Adelaide Road, site of Messrs. Norm and Sons' Brickwords. Bidding, per foot—£lo, £11, £12. -Withdrawn. " Lot M.—Adolaido Road, opposite the Cale•donial Hotel. Frontage 106 ft. 7in. Cottages aro built on this section, and tho whole was 111 OI I G lot,"the bids running 'from £3000 up to £3600, at which price the property was withdrawn.

Lot 15.—Tasinan Street, adjoining tho premises of P. M'Cardle. Frontage, 40ft. 2in Bidding—£looo, then in £50 bids to £1350 : bid °f £25 _thon came in, and at x/ 10/5 the lot was withdrawn. It is understood that, at least two lots, the Keroseno Bond sites, and the "Blue House" tlon' r ° resont uri< ler- private negotia-