Page 8 Advertisements Column 3

Evening Post, Volume LXIII, Issue 87, 12 April 1902, Page 8

GREAT AND UNUSUAL OPPORTUNITY Vim THK PROFITABLE IN VKS I'MENT OF'CAPITAL. ABSOLUTE MALU OF ONI-1 OF THE LAIUJKST AMD MOST VALUABLE FKIMUOLD CORNER BUSINESS m.OUIvH IN 11-110 CBNTUIO OF '111E CITY OF WELLINGTON. PROPKHT J.KS RETURNING A CLEAR RENTAL OF £1000 PER ANNUM, AND INCREASING TO £2000 PER ANNUM. ' NEARLY ONE ACRE IN AREA. IN THE EXCHANGE LAND AUOTION ROOMS, No. 84, LAMBTON-QUAY, WELLINGTON. ON THURSDAY NEXT, 17th APRDL, At 2.30 o'olock p.m. MACDONALD, WILSON, AND CO. aro favoured with instructions to soil absolutely by publio auotion, as abovo — THAT MAGNIFIOENT PROPERTY, forming a compact blook of NEARLY AN ACRE, having a , total frontogo of— i-jOO FEET R INCHES TO LAMBTON-QUAY Oi/» FEET A INCHES TO WOODWARD-STREET AND, -j-iK FEET o INCHES TO WELUNGTON-TERRAOE WITH ALL THE VALUABLE BUILDINGS THEREON. Tho Business Promisoß upon the Land consist of the Commodious Brick 'and Cement Buildings occupied by Messrs. Barbor and Co., Mrs. Cross, Messrs. Jenkins and Mack, and Mr. J. D. Slater respectively, occupying together a frontage of ovor 96 feet to Lambton-quay, and Four Wood and Iron Buildings in Lambtonquay and Woodward-street, ocoupied by Mr. Jow as a Privato Hotel, Messrs. H. O. Gibbons and Co., and several private tenants,

The property is situated in the bost and busiest portion of Lambton-quay — tho finest stroot in the city, and immediately opposite the Occidental Hotel and Messrs. Jurkcaldio and Stains' s well-known drapery premises. The L oases to the various tenants upon tho L&rabton-qpay frontage are as follows: — BARBER AND CO. and MRS. CROSS— 46 feet 10 inches, for 42 years, from Ist Octobor, 1886, at the following varying rentals: — Up to 1907, £120 per annum 1907 to 1914, £135 por annum 1914 to 1921, £150 por annum 1921 to 1928, £170 per annum JENKINS AND MACK— . 24 feet 9 inches, for 5 years, from Ist January, 1902, at £260 por annum J. D. SLATER— 24 feot 9 inches, for 15 years, from 23rd j Octobor, 1901, at tho following vary- j ing rentals: — Up to 1906, £260 por annum 1906 to 1911, £286 per annum 1911 to 1916, £325 per annum JEW AND OTHERS— 25 feot 9 inches, for 16 yours, oxpirinK 25th t Scptomber, 1917, at a rental during tho wholo term of £260 per annum The only lease upon Iho Woodward Btreot frontage is that cmbrncad in Iho portion occupied by tho Private Hotel, Lambton-quay. The remainder of tho fronttige is partly filled by Throe Collages let on wookly tenancies bringing in a rontal of somo £100 per annum. Tho long frontage to tho Wellingtontorraco of 115 feot 3 inches is at prosont unbuilt upon, but nrnwigoinonta of a satisfactory charaoter can easily bo mado with the tenants, so that this extremely valuable frontage may be profitably utilised. All Rates and Taxes are paid by tho Lessees, leaving tho Rontal clear of deductions. ♦ It will be seen from tho abovo details that within a comparatively brief period tho present leases will fall in. The existing rentals under the leases were based upon the value of the land alone, without counting in the cost of the buildings. If tho land and buildings -were to bo re-let to-day they would bring in double the present income. This magnificent property was ono of the earliest special reservations on tho first plan of tho city, and has remained tho property of the descendants of tho original owners from that date till tho present day. Tho Proporty will bo sold as a wholo, but tho purchasor oan toko over an existing Mortgago of £14.500 to tho Australian Mutual Providont Society bearing interest at 4£ iper cent, por annum. Tho Title is under the Land Transfer Act. SPEOIAL NOTE BY THE AUOTIONEbttri : I In these days of difficulty in securing first-class Investments, the sale of tho abovo property should appeal with special forco to tho prudent Capitalist and. Financier. . { ;•> The Property is paying ft clear annual interest of 4 por con I. on a capital value Qf £25,000, tad in a few yours it will bo f aturning , doublo tho present revenue, thereby increasing the value of the property to ( £50,000. It is an admitted faot that the investment of a portion of the reserve funds of groat financial institutions in tho purohase of Freehold Business Promises in tho Leading Thoroughfares of tho Capital Citio3 of the >v orld has proved the safest and most profitable of all forms of Trust Investment. Every privato investor of experience in the colony knows that tho purohase of Freehold Promises such as the Blook now being offered in the eoni.ro of tho Chief Business Street in tho Capital City must at the prices of to-day provo remunerative in tho highest dogreo to tho purchaser. Tlio fact that tho City of Wellington is not only tho Political Capital of tho colony, but has now, through tho large volume of its imports and oxports, reached tUe position of its Commercial Capital gives to its Businoss Bloclcb a Speoial Value alike to Commercial Men and to the Banking and Caiutalistio World. ' Nothing can stay tho onward march of progress and development which tho City and District of Wellington entered upon Ten Years ago. Every New Year seoo Tens of Thousands of Acres of virgin soil north of tho city brought into cultivation; hundreds of miles of now tracks and roads opened up ; natural industries established in dittriots undreamt of a decadn ngo; now homes created and the strong strenuous lifo of vigorous and youthful communities "in tho Back woods" adding wealth and power to New Zealand. All this means increasing and ever increasing Trado and Commorco to tho City of Wellington, which, from its gcographi- , cal position, pours into the whole of the mew •ottlementi nov existing from the