THE New Zealand Herald. AND DAILY SOUTHERN CROSS. SATURDAY, DECEMBER 9, 1882.

New Zealand Herald, Volume XIX, Issue 6572, 9 December 1882, Page 4

THE New Zealand Herald. AND DAILY SOUTHERN CROSS. SATURDAY, DECEMBER 9, 1882.

The high prices realised by the Harbour Board allotments sold yesterday was quite a surprise even in these times of advancing land values. The leases were sold of nineteen allotments near the projected new Railway Station, on the harbour reclamation, and the greater portion of them fronting Customhousestreet. The result of the sale must be gratifying to all who arc: interested in the progress and prosperity of the city, inasmuch as the prices realised exceed any hitherto obtained for leasehold property at per foot in this city, ranging from £3 2s Gd to £10 2s 6d per foot per annum. The purchasers were all well known Auckland business men, and none of the lots appeared to be taken up upon speculation, but for the businesses of the respective firms concerned. Among the purchasers were the New Zealand Shipping Company (which gave the top price of the sale), the St. llelier's I>uy Tramway Company, and Mr. Thomas Russell. The prices which have been paid will compel investors to utilise the ground speedily, and within the next couple of years the whole of the block in Customhouse - street, will, in all probability, be built over. The contractor for the railway reclamations will have finished his contract during the coming year, and as the Government will take over the reclamations in sections, in order to get on "with the erection of the buildings in

connection with the new railway station, the next two or three jears should see that quarter of the city one the busiest scenes of commerce in Auckland, and the outcoiae of the sale will be to increase the annual income of the Harbour Board by some£2ooo a-y«ar. It is to be hoped that the lesson of yesterday will not be lost upon that bodv, and that at an early date the scheme of harbour reclamations sketched out by the Board's Engineer, Mr. Macdonald, will bo taken in hand. The increasing value of the present endowments would render the step not only practical and prudent, but we venture to predict largely remunerative.