LAND SALES

Grey River Argus, 16 February 1946, Page 2

LAND SALES

GREYMOUTH PROPERTY

At a sitting of the Land Sales Committee in Greymouth yesterday, E. C. Hansen (Mr. A.- M. Jamieson) applied for permission to sell to Mrs. M. Bradshaw a property in Smith Street, Greymouth, for £2,425. ’lhe chairman, Mr. M. Wallace presided, and associated with him _ were Messrs J. Mulcare and J. W. Greenslade. The Commissioner of Crown Lands, Hokitika (Mr. N. Clay) represented the Crown.,. G. F. Shallcrass, valuer, said in evidence that he had inspected’ the property on February 12. The building was a very fine home. He valued the home at £2006, the improvements at £ll9 and the section at £325 making a total value of £2,450.

It was stated that there was no dispute as to the value of the freehold.

Continuing, Mr. Shallcrass said that the rise in values between 1939 and 1942 was approximately 10 per cent. Quoting from the “Valuers’ Bulletin,” 1945, he said thot a Dominion survey had set the rise m building costs between 1939 and 1944 at 28.32 per cent. The increase in costs since 1942 was thus approximately 16 per cent. The building was a six roomed’, modern dwelling of one and a half stories built of the very best materials. It had a total floor area of 1724 square feet.

R. G. Drummond, valuer for the Crown said in evidence that he had calculated the basic value of the house at 21s 6d per square foot. His basic value for a normal house was 18s 6d per square foot. To that he had .added 9d a square foot for concrete foundations and 2s 3d’ a square foot for the excellence of the materials used in construction. The property was a superior class of dwelling. His total value for the property was £2,350.

Replying to the chairman, witness said he considered 15 per cent, to be a fair increase in values since 1942. Mr. Jamieson asked for consent at a reduction in price to £2,380. Mr. Clay said the Crown was agreeable to settlement at that figure.

Consent was granted at £2,380, the chairman remarking that the committee considered the most important evidence to be the acceptance of 15 per cent, as a reasonable allowance on the increase in building costs since 1942. Public Trustee in estate of R. Neilson applied for permission to sell to T. and P. Minehan a property in Cobden for £BOO. It was stated that vendor and purchaser had agreed to settle for £650. The Crown had no objection and consent was granted subject, to a reduction in price to £650.