SALE OF PROPERTIES

Greymouth Evening Star, 24 March 1945, Page 4

SALE OF PROPERTIES

APPLICATIONS AT GREYMOUTH.

The hearing of an a PP^ ca^Ps,.^ y J. C. Drummond .(Mr. C. R ; ley) for permission to seh a pio pSy in Marsden Road to ' Parkinson, at a price °- landTa e nd a Sales Sl cimmitte| (Messrs T^ n Wallace J W. Greenslade and J. ?^ S wa S ° n^and e for whom the Commissioner of Crown LaMs (Mr. N. Clay) appearedTl^l State Advances supervisor,. R. G. Drummond, said /Tfig's 1 had a Government valuation of £9O, but in 1941 was sold for £75. The Chairman announced that committee considered £ 155 to be a fair price for the section, and would consent to the sale subject to a iedution in the purhase price, from £1250 to £1220. The Public Trustee. (Mr. W. RMillier) as executor m the estate oi E E Barrowman, deceased, sought permission to sell to J. Hill allotment Ef of Section 1352, Shakespeare Street, Greymouth, the price being £950 ’ j G. F. Shallcrass, land agent, said that the property had been off ex ed for sale at an auction, and the price of £950 being the highest was accepted. His valuation of the property was £BB7. A nearby section had been bought for £335. He valued this section at £325. The P ro P e was well set up with sheds, and the building of six rooms and a bathroom was 60 years old. The property had been very well maintained throughout its life and little if any immediate repairs were needed. His valuation of the house itself was £1177 less 60 per cent, depreciation, £695, giving a nett figure of £482. Outbuildings he valued at £6O, and fences and paths £2O, giving a total value for the property of £BB7. To Mr. Clay: He considered the amount of depreciation allowed was quite fair. E. A. Warnes, valuer, for the Crown, said the locality was excellent and the transport good. The section was level but inclined to be damp. Certain repairs were required to be done to the interior of the house, though the building had been maintained well until recently. Borer infestation was evident. He had not applied full depreciation on account of good maintenance. He valued the property at £B3l, allowing £325 for the section, and £349 for the buildings, £ll2 for the outbuildings, fencing £l5, and paths £3O. He considered £B3l to be a fair price. The Chairman pointed out that there was only a difference of £56 in the two valuations. Consent would be given to the sale at £856. After inspecting the property in Leonard Street, the Committee announced that it would consent to E. Stewart selling his property to C. E. Slack,-subject to a reduction in the purchase prime from £5OO to £340. The Chairman intimated that this was the maximum price at which it would consent to the sale.