PROPERTY SALE
QUEEN STREET PREMISES FIRST FOR SEVERAL YEARS SUM OF £15,000 INVOLVED PRICE OVER £714 A FOOT The first important sale of Queen Street property for several years lias been completed, the freehold area occupied by B. J, M. Kemp, Limited between the New Zealand Insurance Company, Limited, and the Government Life Insurance Buildings, having been sold for £15,000. The frontage to Queen Street is 21ft., so that the price is equivalent to over £< It a foot. The depth of the section is 85ft. The property, on which is a twostoreyed building, was formerly owned by the National Insurance Company, which sold it for £2.3,000 in March, 1928, to a syndicate. It has now been bought by a private citizen for investment purposes. The sale was conducted by Samuel Vaile and Sons, Limited. " The last sales of Queen Street business properties were in April, 1929, when the lease of Everybody's Theatre was sold to Woolworths, Limited, for £6OOO. The lease then had six years to run. In the same month the property of the No-Deposit Piano Company, adjoining the Town Hall, was sold to E. W. Pidgeon and Company for £24,000, equivalent to about £533 a foot. Last year the Northland Private Hotel, in Upper Queen Street, was sold for £12,000.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21932, 16 October 1934, Page 8
Word Count
212PROPERTY SALE New Zealand Herald, Volume LXXI, Issue 21932, 16 October 1934, Page 8
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