BOUGHT IN AT £115,000

Poverty Bay Herald, Volume LIV, Issue 16627, 21 April 1928, Page 5

BOUGHT IN AT £115,000

TANGIHAU PROPERTY PRICE Offered for sale 'at auction to-day, tho well-known TangiHau station, comprising good, sound, healthy pastoral country, situated about 32 miles from Gisborne, was bought in with the cattle and sheep grazing on the property for £115,0C0, representing an average price of nearly £0 an acre. The property was submitted this morning by Messrs. Murray, Roberts aud Co., in conjunction with Messrs. Hoadley, aoti aud Stewart, the auctioneer being Mr. l’enouf, formerly of Gisborne. The importance of the sale was signalised by a large gathering of farmers and agents, though it was evident that the property -was of too great a value to be the subject of extensive bidding. It was explained that the station comprised 15,15/ acres 23 perches, and that it was being offered with the sheep and cattle on it for a lump'sum. The stock comprised 18.CQ3 sheep of Mixed ages and s ; exes, and 1900 cattle also of mixed ages and sexes. About 6000 head of sheep had been sold off the station hist year, and about 387 head of cattie. The sale did not affect any- dead stock or other effects which might lio on tho property at the time of sale. The bidding.was started with an offer of £lll,OOO for ’the whole of the land arid "live. stock, and after a’moment a bi-cl of £115,0(X) was put in on behalf of the mortgagee, .the Bank of Australasia. There being no further bidding, the property was, accordingly knocked down.