SALE TO AIRMAN

Gisborne Herald, Volume LXXII, Issue 21633, 9 February 1945, Page 2

SALE TO AIRMAN

REDUCTION ACCEPTED HOUSE PROPERTY VALUE DE LAUTOUR ROAD SHOP The first, instance in which a vendor lias voluntarily agreed to a reduction jn tiie agreeo price of a property, in order to assist a returned serviceman. recorded at a sitting of the Gisborne Land Sales Committee yesterday. when Messrs. F. 11. Forge and I. 'au comprised the tribunal. The property concerned is a house an... .a.*,. s-'-i-on ..i ittr-.jic urc.i, with a 1937 rating value of Yiu.., The agreed price stated in the application was £1650, this including ins value of an electric stove and hotwater system, linoleums, and other incidentals. Three independent valuations were submitted, at £1536 10s. £1485. and ,£153(1 respectively, tuc lowest being that of a Government lending agency and the other two being special Crown valuations. The ic.vest valuation did not take into account special factors which tno I committee is authorised to credit in fixing the fair value, j Tne vendor was present at the hearing, and intimated that while he was confident that he could produce , evidence showing that the true value was actually in excess of the agreed Di’ice, he did not wish to force the

issue where the purchaser was a returned serviceman. He was prepared to agree at once to a reduction of the sale price to £IOOO. The transaction was approved by the committee at that figure. Three farm-lands sales at Whata- j tutu, inv.olving areas of 151 acres. 12 acres, and 4 acres .respective v. were I approved by the committee. The la.-- 1 gest area was part of a substanti i! ! station, but was cul off by a river, j and the purchaser, an adjoining ' owner, wished to have this extra ' land to improve his own holding. 'order to .secure access to the 151 i acres, however, he was obliged to b n- I the other two areas. The agreed I prices, which were approved hv the committee, were £12(127 5s for the 15i acres, £IBO for the 12-acre strip, and CO J 2s (id for the 4- acre section. Lease at Te Arm-on A lease ol 252 acres at 1 e Araroa. at a goodwill of £2OO. was approved, the lease being from the Maori Land Board tor 21 years irom 1941, with no rights of renewal or compensation, the rent being £SB 8s Gd per year. An 80-acre farm at Wairoa was approved for sale at £2200, a special valuation by the State Advances Corporation being £2830. A lengthy hearing took place on an application tor the sale of a shop in j cieLaiuour road, the agreed price be- j ing £I4OO. including the value of ! chattels. £283. This property last i changed hands in August, 1944, at £9lO. and the vendor claimed to have expended £207 in the meantime in improvements. The value of the improvements was subjected to ques- | lion, and the committee eventually I li.vod the fair price at £1375. Other transactions dealt with by I the committee included the follow-!

Sale of hall. Opotiki. with 17 perches, agreed price £(>so: rating j vn'uation 1930 £1550. Approved. \ Sale of leasehold house properly,/

Tokomaru Bay. with 11,l 1 , acres, agrcefl goodwill £100: lease has 11 years to iun, without right, of renewal or compensation. rent £1 per annum. Approved. Sale of house properly. Aberdeen road, with 23 perches, agreed price £1400: special Crown valuation £1347. Approved at £1375. vendor agreeing to the reduction. Sale of house property. Hill and Gordon streets, with half-acre, agreed price £375; ml ing valuation 1937 £GIO. Approved. Sale of vacant section, Abbot street Ird I4.3per. agreed price £55: rating valuation 1937 £45. Approved.