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A Gisbornc message states that a record price was established for town property iu the business area to-day, when a 21yoars' lease of an education reserve, one rood, with a frontage of 66ft, in Gladstone road, was sold at the Land Office at an annual rental of £7OO. The section was originally let in April, 1894. at a £75 rental. To-day's price, capitalised at 5 per cent., represents £212 per foot, or £14,000 capital value. The highest previous price in this locality was £l6O per foot'.

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https://paperspast.natlib.govt.nz/newspapers/ESD19150111.2.43.3

Bibliographic details

Page 4 Advertisements Column 3, Evening Star, Issue 15697, 11 January 1915

Word Count
86

Page 4 Advertisements Column 3 Evening Star, Issue 15697, 11 January 1915

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