PROPERTY VALUES.

Manawatu Standard, Volume XLVIII, Issue 285, 30 October 1928, Page 6

PROPERTY VALUES.

STEADY APPRECIATION. TOWN’S MARKED DEVELOPMENT. That property values in the Square were higher than would appear from a recent article published in the “Standard” was the opinion expressed by a local business man. “The stated price of £2OO a foot in the Square is certainly low,” lie stated. “Land has been'sold in the Square for some years past at £4OO a toot. The values of choice business sites in the town are, proportionate to our population, equal to those of any city in the Dominion. The town is very stable and must grow, and I am convinced that, in a very few years, we will have a population of 50,000. The Square will remain the retail shopping centre, and make great strides as soon as the railway line is removed. Many people do not like crossing the line, and, when it has gone, the Fitzherbert side of the Square will go ahead rapidly.” The speaker pointed out that the new library block and shops would add considerably to the trade in that part of the town, and added that a large drapery establishment contemplated erecting new premises equal to any at present in the town. Property values were steadily' appreciating, and business men generally had no fear as to the future of the-district and town. VALUES IN BROADWAY. Another prominent business man, Mr L. H. Collinson, told the “Standard” that his firm had purchased 18 feet of land from Waldegrave’s Estate in Broadway at a price of nearly £6OO a foot. This figure, however, included certain buildings, and it was difficult to assess the exact value for the unimproved section. Further down Broadway, he had paid £9OOO for 33 feet. Both these deals had been spot cash. The freehold of the Post Office Hotel, also in Broadway, had been sold by the Collinson and Cunninghamo interests for a very substantial figure. Certain other sections in Broadway had also been sold, and the aggregate property deals of this firm in the last twelve months came to £50,000. “We have every confidence in Broadway, and • are convinced that it will become more and more prominent as a high-class retail shopping centre,” said Mr Collinson in concluding.