CITY PROPERTIES

Evening Post, Volume CXXIII, Issue 67, 20 March 1937, Page 10

CITY PROPERTIES

SOME IMPORTANT OFFERINGS

How far market opinion and Government valuation of properties can diverge was illustrated yesterday at the offering of a well-known city property by Mr. S. Harcourt for Messrs. Harcourt and Co. The property in question was a concrete building, Nos. 185 and 187 Upper Willis Street. This building, the auctioneer stated, was valued by the Government for taxa-; tion and rate purposes at £11,905 and land and building had cost £17,400. The j bidding stopped at £8000, at which price the property was passed in for private sale. No. 269 Upper Willis I Street, two shops and dwelling pre- j mises next the Brunswick Hotel, was also oflered for sale, but at £2600 was passed in. | The prominent brick building at the angle of Willis and Mercer Streets, known as Cooper's Building, was also submitted. It stands on land having 27ft Bin frontage to Willis Street and about 190 ft to Mercer Street. Bidding began at £20,000 and rose by £1000 bids and subsequently £500 bids, until £25,100 was reached and bidding stopped. The property failed to reach the reserve and was passed in. Another well-known city business property also came under the hammer, namely, Morgan's Building, at the corner of Cuba Street i-.nd Vivian Street' opposite the National Bank and at a tram stop. The building is occupied by Mac Duff's, Ltd. Bidding stopped at £7750, but as the reserve was not reached the property was passed in. The offering of these business premises threw an interesting sidelight on the market for properties in the heart of the city.

WOMAN GOLF CHAMPION

(By Telegraph—Press Association.) DUNEDIN, This Day. The final of the Otago ladies' golf championship was won by Mrs. Ivo Carr, who beat Mrs. McCarthy this [ morning. sup and 4to play. j