SALE OF FARM

Otago Daily Times, Issue 26025, 13 December 1945, Page 6

SALE OF FARM

BOTH PARTIES APPEAL CASE BEFORE LAND SALES COURT The decision of the Otago Land Sales Committee in reducing tne price of a farm of 562 acres at Windsor, near Oamaru, by £1 an acre, was the subject of an appeal by the vendors which was heard before the Land Sales Court yesterday. There was also an appeal by the Crown on the ground that the price was still too high. The property was sold by the executors of the estate of Malcolm McNally to Alexander Clyne and his ex-serviceman son, Louis Clyne, for the sum of £10,119, but the committee reduced the price to £9554. The appeal was heard before Mr Justice Finlay, the other member of the court being Mr W. E. Scott. Mr J. H. Main appeared for the vendors,, and Mr S. T. Barnett represented the Crown. Vendor’s Submissions Mr Main said that except for the reduction in the price, the vendors had no criticism to make concerning the committee’s decision. The land had been sold 34 years ago for £lB an acre. Counsel said the valuers called by the vendors were experienced farmers living in the district, and their evidence should be more readily acceptable than that given by the Crown valuers. Mr Main added that it was fairly apparent that the purchasers were well satisfied with their bargain as they had not been represented by counsel at the hearing before the committee. They had also lost a season’s production, but were still content to pay the original price of £lB an acre. He referred at length to the potential value of the farm. - Mr Barnett said that counsel for the vendors had pointed out that the property had changed hands in 1911 for £lB an acre. In ordinary circumstances that would be a significant factor, but it seemed obvious, he said, that there had either been a false appreciation of values so far as North Otago land was concerned in 1911, or that there had been a deterioration in values since then. A good deal of evidence could be adduced to support such a contention. It was claimed that the land was in good order, but no cropping had been carried out for some time and in consequence “ 100 of the 500 acres have been given over to rabbits. A part of the area is also in twitch and it will take years to eradiMr Barnett said that the revenue from the farm in the 1942-43 season amounted to £1142, in 1943-44 it was £1056, and in 1944-45 £1739. The committee had been very generous in allowing for a revenue of £2200. It was agreed that the buildings were sufficient to meet all requirements if they were in a reasonable state of'repair, but such was not the case. It was admitted that a new woolshed was required, and this would involve an expenditure of £2OO. Counsel also referred to the lack of plantations for shelter purposes. The committee had allowed no deduction for this. His Honor: What does the Crown consider a reasonable price? Mr Barnett: £ls 6s an acre. Counsel added that it would take four years to put the farm in good order. Tme court reserved its decision. Sale of Bungalow The court will also announce its decision later in the case in which the Crown appealed against the price fixed by the Otago Land Sales Committee for a four-roomed brick bungalow in Alexandra road. Abbotsford. The respondent in this case was William Robert Lindsay.