THE SALE OF THE LEVY ESTATE

Evening Post, Volume XXII, Issue 141, 15 December 1881, Page 3

THE SALE OF THE LEVY ESTATE

The sale of this valuablo property, to take -place to-morrow, has excited a large amount of attention and interest throughout the -community. To those of our readers who are unacquainted with the history of the estate, we may Bay that the property was occupied for many years by the lite Mr. Lipman Levy, and formed, in fact, the ornamental garden and paddocks attached to his residence. On the death of that gentleman, it remained in the possession of Mrs. Levy until her decease, some three months since, when under the terms of Mr. Levy's will, the property had to be realised, and the proceeds, after payment of liabilities, distributed amongst certain legatees. The executory we are in f ormed, first offered the property for private Eale at the price of -39000, but failing to get that amount, they determined, after very careful ooneideration, to subdivide it into allotments, and submit the whole property when so sub-divided to public auction without reserve, believing that the healthy competition at an unreserved sale would lead to fair values being obtained. It will be seen by a reference to the plans, which have been circulated, that there are 6 allotments fronting Kent Terrace, 5 allotments fronting Majoribankß-streot, G allotments fronting Brougham-Btreot, 11 allotments fronting Levy-street, and 3 allotments fronting Lip-man-Btreet, the whole of them commanding epl> ndid views of the c ty. '1 he family residence, situated on allotment 30, was built by MrJap. Lookie, the well-known builder of this oity, from designs by Mr. Chatiield, architect, and cannot, it is eaid, be surpassed for comfort and convenience as a family house The sale is the fir st large sale of building seotions in the city since the depression set in three years since, and it is hoped from tho increased activity now displayed in all commercial matters, the result will prove an ind'ix that the people of Wellington have faith in the future of our city. It will be noted, from our advertising columns, that the Wellington Trust, Loan, and Investment Company will lend three-fourths of the purchase money to purchasers, at 7£ per cent. per annum for any term of years. There are a' so a number of other properties, in addition to the Levy Esta'e, to be sold tomorrow, to which the auctioneers, Messrs. T. Kennedy Macdonald and Co., invite, in our advertising columns, special attention.