VALUING AN ESTATE

New Zealand Times, Volume XXX, Issue 6492, 11 April 1908, Page 11

VALUING AN ESTATE

A £IO,COO REDUCTION. PRESS ASSOCIATION'. AUCKLAND, April 10. Tiic valuation of tho remnant of the Assets Board’s Surrey Hills Estate, which was taken over by tho Bank of New Zealand, engaged the attention of tho Assessment Court at Grey Lynn last night. The value of the estate was placed at £54,710, a decrease of £IO,OOO having been made by tho Department, by consent, upon their original valuation of £64,710. Mr H. Buckieton, tho district manager of tho bank, who was in attendance, said that the bank was willing to take £45,000 cash for the property. In his opinion'it would take about £20,000 to road the estate. Mr Ksam, the Government valuer, stated that his calculation of £54,741 was based on tho assumption that the reading would not hare to be carried out by tho bank. After some discussion, Mr Dyer said that if tho decision in the case at present before the Court of Appeal as to whether the bank or the borough was liablo for reading tho estate had been available, they would have known how to act. Under tho circumstances, however, when they had the bank’s definite offer of £45,000 they had decided that it would bo best to reduce tho valuation to that figure.