SALE OF GOLF LINKS

Wanganui Chronicle, Volume 80, Issue 253, 25 October 1937, Page 6

SALE OF GOLF LINKS

£8950 FOR TITAHI COURSE SULL AVAILABLE FOR PLAY WELLINGTON, Oct. 22. By oidei of the Supreme Court, the Titahi Golt Cl th Company’s course, which lies on the sunny downs between Titahi Bay and Porirua Harbour. was sold at auction. The bidding started at £7500, and from that jumped to £BOOO, £B5OO, £9OOO, and then by hundreds to £9850, at which figure the property was knocked down to Messrs. C. I’. Middleton, W. Ryan and F. G. Cngley. The property was acquired by the Titahi Golf Club Company some eight years ago, the company subsequently erecting on it a golf course at a cost of £2500. The company relied to some extent on the sale of the building sections which fringe the property on

the northern side. Owing to the slump there was a set-back in the affairs or the. company, which was at length advised to go into liquidation, following upon which the Court ordered the sale of the property in the interests of creditors.

There are 135 acres of sandy land in the property, 100 acres of which form the golf links, while the remainder comprises 61 building allotments.

As the result of the sale, it is understood, the bank, mortgagees and unsecured creditors will be satisfied in full, and there is the possibility of a small dividend for the shareholders,, those 170 sportsmen who provided £25 each at the initiation of the company. It is understood that the links will remain available for golf, the putchasers receiving return on their money in the form of rent from the golf dub (which has a waiting list or members), certain grazing rights, and the sale of 61 building allotments.