MANSION SOLD FOR £7

New Zealand Herald, Volume LXIX, Issue 21248, 30 July 1932, Page 3 (Supplement)

MANSION SOLD FOR £7

ENGLISH " WHITE ELEPHANT " BIDS AT AUCTION SALE Only £7 was realised at an auction sale in Nottingham lately for St. Heliers, The Park, Nottingham, the residence of the late Lord Trent, formerly Sir Jesse Boot, who had spent many thousands of pounds on the mansion. The bidding started at £5, and when it reached £7 the property was knocked down to Mr. H. Wightman. There was no reserve on it. The auctioneer told a reporter that the reason why such a low figure was realised was that the immense house is a " white elephant." " It is leasehold," the auctioneer said, " and although there is about' 50 years of the lease to run there is a ground rent of £ll6 a. year, which has to be paid to the estate of the Duke of Newcastle whether the property is occupied or not. The house cannot be pulled down, and there are restrictive covenants on it which prevent it from being used lor , flats or any other purpose than a dwelling. "Wo did not expect to get a bid at all. I think we should have sold even if we had only been offered ss. 'lhe house has no market value whatever, unless some rich man happened to take a fancy to it. It is in a good stale of repair, but lias not been lived in for ten years. Among the additions made to the house by the late Lord Trent was an immense conservatory. He also had a tower constructed to contain a lift at the tiino when lie became too ill to walk upstairs. Mr. Wightman said after the sale that ho went there to buy some land, and his bidding for tho property was a joke with a friend. " When the bidding roso from £5 to £6 my friend said, ' Go on, Herbert, bid seven.' I did, and then the hammer came down." Mr. Wightman says ho hopes to convert the property into flats.