RAILWAY LEASES.

New Zealand Herald, Volume LXVII, Issue 20520, 22 March 1930, Page 13

RAILWAY LEASES.

OFFER AT AUCTION. NO SALES EFFECTED. No sales were effected in the case of eight railway leases of sections in the old Newmarket work-shops site which were offered at auction yesterday by C. F. Bennett, Limited, on behalf of the Railway Department. The sections are situated in the area between Remuera Road and Mahuru Road. They have a frontage to a new road under construction through the heart of the workshops site and there is private railway siding, access to the back. The sections, which are stated to be suitable for factory sites, range in size from 30.7 perches to 1 rood 24 perches. All lots were passed in, as in no case was the upset rental reached. The first section, of 30.7 perches, was offered at the upset rental of £99 but found no bidders. £IOO was the upset rental of the next section, of 39.4 perches, but this again was passed in without bidding. Lot 3, of 1 rood 8 perches, also found no bidder, the upset being £lO6. The strength of the bidding was tested with the fourth section, of 1 rood 9.5 perches, Mr. Bennett accepting as a basis an offer of £SO. This was increased at £5 rises to £95, which was £5 short of the upset price. There was no bidding for the remaining four sections, all over 1 rood in extent. The upset prices for these were stated to be £9O, £BO, £B3, and £6l respectively.