SURREY HILLS ESTATE.

Poverty Bay Herald, Volume XXXV, Issue 11248, 11 April 1908, Page 2

SURREY HILLS ESTATE.

(Per Press Association.^ AUCKLAND, this day. The valuation of the remnant of the Assets Board's Surrey Hills estate, which was taken over by the Bank of New Zealand, engaged the attention of the Assessment Court at Grey Lynn last night. The unimproved value- of the estate was placed at £54,710, a. decrease of £10,000 having been made by tlie Department by consent upon their original valuation of £65,710. Mr H. Bmckleton, tlve district manager of the lxmk ( who was m attendance, said that the bank, was willing to take £46,CCO cash for the property. In his opinion it would take a-bout £20,C00 to road the estate. Mr Esam, the Government valuer, stated that Ids calculation o-f £54,710 Avas based on the assumption that tlve roading would not huve to be earned out by the bank. After some discussion, Mr Dyer <?a<id that if the decision m the case at present before the Court of Appeal, as to whether the bank or the borough was liable for road ing the estate, had been available, they would have known how to- act. 'Under the circumstances, however, when they had the kink's definite offer of £45,---000. they had decided that -it "wmiild- be best bo reduce the valuation to that figure.