REAY STATION SALE

Poverty Bay Herald, Volume LII, Issue 16208, 4 December 1926, Page 6

REAY STATION SALE

£36/10/- FOR TE ARAI FLATS The sale of the Iteny station properties, held to-day by the N.Z. Loan and Mercantile Agency Co., was largely attended, and keen interest was shown in the various Jots offered. The lots submitted included freehold and leasehold areas, and aR but a. small portion of tho land was disposed of. The level of prices was comparatively low. The best price was realised for a freehold area of 57 acres, which sold at £36 10s per acre. This is situated on the river Hats at the lower end of the estate, and adjoins another area of 33 acres, for which £25 was secured. A portion of the hill country included dn the station, and comprising 468 acres of freehold land, brought £5 10s an acre, and leasehold areas ranged about £2 per acre for goodwill. One lot of 891 acres was disposed of for £2 2s, and two others of 1144 and 989 acres respectively reach £2. The homestead lot, comprising 1112 acres of freehold, started well, but the best offer was considerably belovv the reserve, placed upon it. There is a prospect tuat. this area will be sold, however, as well as certain small areas of flat land suitable for dniring, aiul some town properties near the William I’ettie bridge.