TOWN & COUNTRY

Gisborne Herald, Volume LXXIV, Issue 22426, 5 September 1947, Page 6

TOWN & COUNTRY

BUSINESS CHANGES TRANSACTIONS PASSED Sixteen application? covering town and country properties were submitted yesterday to the weekly meeting of the Gisborne Land Soles Committee, all being approved on the terms agreed upon between the parties. Three farms of moderate sizes were included among the properties. One of the farms was associated with an hotel property in the Wairoa district. the application being for approval of a renewal of an existing leasehold tenancy at an increased rental. The lease was for a further five years at £312 per annum, an increase of £26 per annum to cover new improvements to the hotel buildings estimated to cost £3OO.

Another farm of 35 acres fronting on Richardson's avenue. Gisborne, was subject to an agreement for a five-year lease at £2 per week, with provision for a rebate to 28s per week on condition that the tenant carried out certain agreed repairs

An Opotikt farm of 38ac. 3rd. was subject to an agreement for sale of a leasehold interest for £260, the parties in this case being Maoris.

The conversion ot a wellknown Gisborne garage business from private ownership to company ownership involved a consideration of £22.000 covering the land and goodwill only, the new company comprising the vendor and his son.

A plumbing business at Ruatoria, which last changed hands at £1330, was submitted for re-sale at £3300 for land and machinery, a special Crown valuation fully justifying this price; and a garage building’at Ruatoria, submitted at £2697. was also below the special Crown valuation.

Other transactions approved were:— House. Aberdeen road, with 38per. £1800; bach. Te Karaka. with lac. ltd. 12per., £140; farmlands, Te Hapara road. 4ac. 2rd. lOper.. £650; house, Gladstone road, with 3t’per., £1800; section. Sheehan street, 18per. £100; house, Wainui Beach, with 34per„ £675 (with chattels £100): section, Stanley road, 25 6per.. £4O; house. IranuL road. with, lrd. 15.6 per.. (half-share only) £366 13s 4d: house, Frasertcwn, with lac. 3rd., £350; two dwellings, Dixon street with lrd. 18per.. £625.