SALE VALUE OF WELL KNOWN STATION FIXED

Gisborne Herald, Volume LXXVI, Issue 23025, 16 August 1949, Page 4

SALE VALUE OF WELL KNOWN STATION FIXED

A well-known Gisborne district farming property was concerned in an application to the Gisborne Land Valuation Court at its weekly sitting, the application being made under Section 14 to have the sale value fixed as a basis for negotiations leading to a private sale of the land. The property referred to was the Arowhana station, of 7786 acres, situated in the Whatatutu area and owned by the estate of the late Mr. W. D. Lysnar.

The trustees of the estate submitted a price of £39,500, and the court fixed the fair value at £38,244. a reduction of £1256. The application is understood to be the forerunner of a further application dealing with a private disposal of the station.

Other transactions included the granting of an order declaring a farm at Waimata of 2591 acres suitable for serviceman settlement. Another trustee application in respect of a theatre in Opotiki was dealt with and the court fixed the fair rental at £ls per week as the basis of a leasehold.

Other transactions are as follow, being approved at the submitted price unless otherwise stated: — Farms.—Makaraka. 4acs„ submitted price, £ 1750, approved £1500; Valley road. 3acs. 3rds. 35pcs., £IOOO, chattels £47; Ngatapa. 931aes. I4pcs., £4306 5s 8d; Tokomaru Bay, 4acs. 3rds. 14pcs, £l2 ocr acre.

nuiltling Sections. —Wainui, 31pcs., £110; Wainui, 3rds. 6pcs„ £250; three sites, Opotiki, 2acs. 2rds„ submitted price £ 165 per acre, provisionally approved at £420; Mill road, lrd. 3pes„ £9O; Childers road, 24pcs., £100; St. John street, Opotiki, 39pcs„ £BS; Bulwer road, lrd., £IOO. Houses. —Elsthorpe avenue, 32pcs., submitted price £1200; approved £1135; Stanley road, lrd. 7pcs., submitted price £7OO, approved £620; Russell street, 30pcs., £1200; Palmerston road, 20pcs., £600; Elliott street, Opotiki, 2acs., submitted price £BSO, approved £785; Rutene road, 26pcs., submitted price £IBOO, approved £1560. Hall, including chattels, Childers road, 32pcs., £I4OO.