THREE CONTESTED CASES

Evening Star, Issue 25083, 26 January 1944, Page 4

THREE CONTESTED CASES

LAND SALES COMMITTEE Three contested cases came before a sitting of the Otago Land Sales Committee yesterday. The committee conlisted'of Messrs E. J. Anderson (chairman). D. J. Ross, and N. McNamara. Mr.W. J. Mathers represented the Crown. The first case involved the transfer of the lease of a suburban; store, and dwelling to a returned serviceman. The annual rent under the lease; which had a currency until 1947, was £195 a year, and the transfer involved the payment of £IOO goodwill. It, was stated that, the vendor had paid £SO goodwill when, he took up .the lease four years ago, and he claimed that he had effected improvements and had built up the business considerably. The State Advances Corporation had: considered the , proposition, and was providing the finance. The Crown raised no objection to the terms, but requested the committee to consider all aspects of the case.—The application was granted. The transfer of a dwelling in Grove street, St; Eilda, at £1.095 was contested by the Crown, which contended that the property had a value of approximately £990. Several valuers called by the vendor . contended that the property, consisting of a good section and a wooden dwelling 16 years old and outhouses, was worth £l,lOO, but the Crown valuer argued that tho condition of the property was such that it would require £175 spent ou it to put it-into good order, and it would then be worth about £1,150. The committee granted the application on condition that the consideration was reduced to £I,OOO. The third case involved a residential property in Bclleknowes, for which the proposed consideration was £2,500. It was stated'on behalf of the vendor that he would not accept less than the amount proposed. Two valuers called bv the vendor, estimated that the house would cost; about £2,000 to build, and placed the value of the section at up to £650. The valuations of the dwelling were based on an estimated cost of from £1 5s to £1 6s 6d a square foot. The Crown valuer estimated the cost' atv£l 3s Gd a square foot, a total of £2,330. —The application, was grantea.