SALE OF A CITY PROPERTY

New Zealand Times, Volume LXXI, Issue 4292, 27 February 1901, Page 6

SALE OF A CITY PROPERTY

A RECOBD PRICE OBTAINED

There was a large attendance at Bie property sale neld by Messrs J. H. Bethune and Co. at their mart, Foatlierston street, yesterday afternoon,when they sold by instructions from Messrs Wilkins and Field, owing to the retirement from business of the senior partner (Mr Thomas Field) their freehold property, part of section No. 207 on the plan of the city of Wellington, having frontages of 73ft 3in to Manners street, 116 ft Sin to Farish street, and lOlft 4in to St. Hill street, together with the two-story shop and warehouse, Nos. 32 and 34, .Manners street, erected thereon, now occupied by .Messrs Wilkins and Field as a. wholesale and retail ironmongery establishment. Before taking bids, the auctioneer (Mr G. H. Bethune) referred to the valuable nature of the property from it.s central position in a main business thoroughfar e of Wellington, and also to the satisfactory increase hi the value of city properties as shown by the recent City Council valuations. The bidding commenced at £7OOO, and proceeded by bids, first of £SOO, and afterwards of £IOO, until £10,700 was reached, at which price the properly was purchased by Mr Martin Kennedy. The price-phtained is a record one. Including the land and buildings, it is at the rate of £ll6 per foot frontage to Manners street, which is far in excess of that of any former sales in the locality. The auction is the last of a 'large number of successful sales of large city properties conducted by Messrs 3. 11. Bethune and Co. A freehold property, No. 24, Thorndon quay, with dweUinghouse of eight rooms, was afterwards offered; also the late Air George Friend’s property of 131 neves and dweUinghouse at Karori; and nui orchard property of ten acres at Pxraparaumu ; but as the bidding for these did not reach the reserve _ prices ihcy were passed in, and remain in the hands of the auctioneers for private sale. I Yesterday Messrs J. H. Bethune and Co. sold by private contract for £1550 a family residence containing tea rooms, with large section, at Thorndon, making their total sales for ‘.be i.ay amount to £12,250.