SALE OF OTAKI LANDS

New Zealand Mail, Issue 1626, 29 April 1903, Page 59

SALE OF OTAKI LANDS

FURTHER RISE IX VALUES OF COUNTRY PROPERTIES. Tho sale of Otaki Suburban at public auction by -viessrs Macdonald, W ilson and Co., took place on the 22nd 1 at the Town Hall, Otaki. The interest aroused in tho property !>y the special advertisements which have appeared regarding it was evidenced by the record attendance at the sale. Buyers were present from Taranaki, Wanganui, and all down the West Coast, while Blenheim 'and the city of Wellington had sent a detachment to invest if a bargain was obtainable. The Town Hall vtas crowded to the doors, and the gathering resembled a political demonstration rather than a prosaio land sale. Ms) Kennedy Macdonald, after reading tho particulars and conditions of sale, and explaining certain points respecting tho water rights, made one of his wellknown speeches at important land sales. 11.0 referred to the high-class character of the property, its exceptional fertility and special value for close settlement,, and the reasons which had led Mr Atkinson to piaoo it upon the market. Ho pcinted out that whenever it was possible he preferred to come to the spot where land was situated, and sell it to the people who knew it "best. No land in'the whole provincial district was better known than this property, and it deserved every one of tne good thing® which had been written respecting it. Mr Macdonald said that on an occasion of this kind ho might be pardoned £os saying that the time had arrived for the Maori people of Otaki to place their tewn in the hands of a special Council or Board of Trustees, with authority to nffide sidewalks, properly kerbed and asphalted, insist on netv fences, and eraart a proper sanitary system. The ei> tect on values in the town would repay, tlo Maori owners over and over again..; It was somewhat disgraceful that the finest winter resort within some hnndieds of miles of the capital of the colony should remain in such wretched plight. The local residents appeared to appreciate very fully the necessity of Mr Macdonald’s observations. The bidding commenced by the sale of an outlying section, containing some six and «*» hall' acres, which realised £6OO. The bidding then became exceedingly brisk, ami prices were well maintained. When the special sections on what is known a/i the Terrace came on, Mr Maodonald explained that unless there was a disposition to take the whole of them at a satisfactory price, it was not deemed desirable to destroy special blocks by allowing a section here and there to be purchased. A number of the outlying sections were then sold at satisfactory, prices, and the balance of the Terrace lands, forming two complete blocks, was passed in at the reserve- These sections are now the subject of offers by residents, and the owner has the satisfaction of knowing that in addition to the sections sold, ho has offers foi every section passed iu at the sale. We append a list of the sections sold and the prices realised. It is satisfactory to find that the bulk of the purchasers were local residents, and that they assess the value of country lands of that chaiacter at some £SO per acre. It is a pi c off of the continued prosperity ot the country districts and of the large capital available for investment m first-class freehold estate. Tlie following are aetaiig of the sections sold:—

Total Sale .£3294 7 3 The total area sold was 691 acres, and the average price realised per acre .£47.

Section. Purchas&i’. 3-in 40 U UXJ 0 L'L. 11 F. G. Jones 0 12 13 F. C. Jones Jas. Caffin 40 40 0 0 0 0 20 Haas Wilder 200 0 0 23 Hans Wilder 605 14 9 27 Hans Wilder 86 35 0 28 Mrs E. Kennedy 50 0 0 29 Mrs E. Kennedy 50 0 0 30 Mrs E. Kennedy 50 0 0 31 Mrs E. Kennedy 50 0 0 35 Mrs E. Kennedy 240 0 0 43 F. W. Bills 248 2 6 44 W. Hughes 150 0 0 48 Terene Moore 181 5 0 49 Terene Moore 50 0 0 50 Terene Moore 130 0 9 51 Terene Moore 50 0 0 53 A.. A. Baudsn 50 0 0 54 H. Whelcli 50 0 0 56 J. Mead 60 0 0 57 J. Mead 60 0 0 58 H. H. Bills 62 10 0 60 Matin te Honiara 150 0 0 Te Kalmi-te-Nga— Gustav JLi- Winger 600 0 0