BIG HOTEL DEAL IN AUCKLAND.

Star (Christchurch), Issue 18586, 11 October 1928, Page 1

BIG HOTEL DEAL IN AUCKLAND.

SUM INVOLVED IS NEARLY £IOO,OOO. (Special to the “ Star.”) AUCKLAND, October 11. Negotiations for the sale of the Hotel Auckland were completed yesterday, the price being about £IOO,OOO. The purchasers are a company to be formed. The vendors, the estate of the late John A. Endean, will retain a substantial interest in the new company. It is understood that no change will be made in the hotel management at present. In addition to the freehold of the site and buildings, the property further comprises a lease, expiring in 1932, from the Dilworth Trust Board of the old Waitemata Hotel building, on the corner of Queen and Customs streets. The ground floor of this building was recently subdivided into a number of small shops. The purchase price also includes the license of the Hotel Auckland and a lease, with six years to run, of a 12ft entrance from Queen Street, next to the premises of Hugh Wright, Ltd. The negotiations preceding the sale were conducted by the co-executors in the estate, the Guardian Trust and Executors Company, and Mrs Annie Endean.