LAND SALES.

New Zealand Times, Volume LXXIV, Issue 4882, 6 February 1903, Page 7

LAND SALES.

THE GRAINGER. SXIiEET BLOCK. HARBOUR BOARD ENDOWMENT. Messrs Macdonald. Wilson and Co. yesterday auueu another lo their Jong ixst oi iucce;;iui land sales. XUe catalogue v.as a jeuguiy use, coiuprlsuig fcUle 01 the u tuiagtcii Harbour Boards endowment,'wiuca lieu been subdivided into la enty-seven building sections fronting \ itiuiia street. AJJea street. Blair street and Courtenay place. The tedious were one red lor lease for twenty-one years, jvnn perpetual renewal on valuation. The lessees are to erect a building on eacu section within lour years, of a value of not less than £SOO. ,Hr I. Kennedy Macdonald, prior to offering the tedious, luudc one of Iris characteristic speeches. Ho told the audience how over and over again he had in the rostrum pointed out the causes which were yearly making the city of Wellington the most prosperous in Now Zealand. So long as the Liberal Government pursued its policy of progressive development. and the opening up the lands of the North Island, the commerce oi the city of Wellington must expand in like ratio and the value of business sites in the city must keep on increasing- The fact that future reclamation works must, through being carried out in deep water, prove spec;-, ally expensive meant costly business lauds in the near future, hence the necessity for securing such lands as_ those forming the endowment of the Wellington Harbour Board. The audience — which closely packed the large auction rooms, consisted chiefly of the business classes, with a sprinkling of ladies, attracted no doubt by the Hutt_ and other properties—responded to Mr Macdonald's appeal, and the bidding throughout was quick, 1 spirited and determined. Every section in the Harbour Board's endowment was sold, the total rental amounting to over XdOOO per annum, representing a capital value for the endowment at four per cent, of over £50,000. The Harbour Board and the auctioneers may well bo congratulated on so highly successful n result. Tho twelve subdivisions of Mr Chapman's picturesque property, nearly opposite the Bellevue Gardens, at the Lower X-lutt, also attracted special attention at the hands of a knot of buyers who purchased every section at an average price of over £OOO per acre, a little in excess of tho value realised per acre by Messrs .Macdonald, Wilson and Co. in their recent great land sale of the X'aine estate at the Huit. These prices show how rapidly the suburb of the Lower Hutt is growing in public estimation. The Railway Department was successful in securing a valuable business property at Petone for =£lloo, which will shortly bo required for railway purposes, and is said to be worth .£I3OO to =£lloo. A cottage and land in Martin square, sold by order of the Public Trustee, brought, after considerable competition, the satisfactory price of £675. Tho total sale represented a capital value of nearly £55,000. The following is a summary of the sales made, which will be specially interesting to our readers; — GRAINGER STREET BLOCK.

Total annua] rental .;. 2074 11 2 Representing, at 4 per cent, per annum, a capital value of nearly .£52,000, for the Harbour Board’s endowment.

LOWER HUTT SECTIONS,

. OTHER PROPERTIES. Sale of property, Petone, by order of Registrar of Supreme Court.’ Sold to N.Z. Government for .£llOO. Property. Martin square, sold'by order of Public Trustee to Mrs S. Tilsler for .£675. ■'

Sec. Purchase!'. Price per ft. Amount. A s. d. Ji s. d. 1 M. P. Cameron ... 1 15 0 88 0 0 2 W. A. J. Dutch ... 1 7 6 81 0 2 3 John Wright X 5 0 62 10 0 4 John Wright 1 5 0 62 10 0 5 John Wright 1 5 0 03 6 11 e Laery and Co 1 17 6 77 16 3 7 Laery and Co. 1 15 0 72 12 6 8 Geo. Luke, as agent 1 13 6 67 8 9 9 Geo. Luke, as agent 1 15 0 72 16 11 10 Geo. Luke, as agent 1 5 0 62 10 0 11 Geo. Luke, as agent 1 5 0 62 10 0 12 Geo. Luke, as agent 1 5 0 62 10 0 13 Geo. Luke, as agent 1 5 0 62 10 0 14 V. Jensen 1 7 6 68 15 0 15 V. Jensen 1 7 6 68 15 0 16 Chas. Stewart 1 5 0 74 11 8 17 Chas. Stewart 1 5 0 ■75 0 0 18 M. P. Cameron ... 3 15 0 160 0 0 19 A. Atkins 1 15 0 97 17 1 20 A. Atkins 1 5 0 69 17 11 21 F. G. Bolton 1 10 0 85 13 9 22 Laery and Co. 1 7 6 68 15 0 23 Laery and Co. 1 7 6 68 15 0 24 Chas. Palliser 1 5 0 81 5 0 25 Chas. Palliser 1 5 0 62 3 9 26 A. Atkins 1 5 0 87 10 0 27 A. Atkins 3 2 6 108 i 6

Sec. Purchaser. Price per ft Amount. £ s. cl. d. 2 T. A. Peterkin ... 4 5 0 212 10 0 3 T. W, Caverliil] ... 4 0 0 200 0 0 4 W. H. Ballinger ... 4 0 0 200 0 0 5 W. H. Ballinjjer ... 4 0 0 200 0 0 6 H. J. Palmer 4 s 0 212 10 0 7 Wm. Aubrey 4 7 6 218 15 0 8 IVm. Aubrey 4 7 6 218 15 0 8 Win. Aubrey 4 7 6 218 15 0 10 Wm. Aubrey 4 7 6 218 15 0 11 Mrs D. M. Jillett 3 15 0 187 10 0 12 Win. C. AVatson ... 3 0 0 150 0 0 13 K. J. Palmer 1 7 6 221 12 1 Total sale 2459 2 1 Average price per acre— <£908 per acre. 3a 2r 33p sold