SOLD AT AUCTION

Dominion, Volume 31, Issue 22, 21 October 1937, Page 2

SOLD AT AUCTION

Titahi Golf Links NOT LOST TO THE GAME By order of the Supreme Court, the Titahi Golf Club Company’s course, which lies on the sunny downs between Titahi Bay aud Porirna harbour, was sold at auction yesterday by Mr. Dunbar Sloane. was a large attendance of ipeople, most of whom had more thty) a passing Interest in the sale. The bidding started at £7500, and from that junked to £BOOO, £B5OO, £9OOO, and then by hundreds to £9850, at which figure the property was knocked down to Messrs. C, P. Middleton. W. Ryan, and F. G. Ongley The property, originally owned by Messrs. J. Prosser, the late T. Dwan, and others, was acquired by the Titahi Golf Club Company some eight years ago. the company subsequently erecting on it a golf course at a cost of £2500. The company relied to some extent on the s.\le of the building sections which fringe ths property on the northern side. Owing to the slump, there was a set-back in the affairs of the company, which was at length advised to go into liquidation, following upon which the court ordered the sale of the property in the interests of creditors. There are 1.35 acres of sandy 1 ’ land in the property, 100 acres of winch form the golf links, while the remainder comprises 61 building allotments. As the result of tho sale, it is understood, the bank, mortgagees and unsecured creditors will be satisfied in full, and there Is the possibility of a small dividend, for the shareholders, those 170 sportsmen who. put in £25 each at the initiation of the company It is also understood that the links ■will remain available for golf, the purchasers receiving return on their money in the form of rent from the golf club (which has a waiting list of membersit certain grazing rights, and the sale of 61 building allotments.