Star.
London, England, 1826-12-18 00:00:00

SALE OF THE EQUITABLE LOAN BANE
COWAN Y'S ESTATE. •

IPURTMiR PARTICULARS.
Some Considerable interest was excited on Fri 'ay by
the announcement of sale of the late College of Physi-
cians, in Warwick-lane, and which was purchased some
time.since for the Fkorpose of carrying on the business
of the Equitable Leann Bank, but which has been lately
dissolved in consequence of the inability of the Cum-
party to obtain a Charter for their incorporation. Some
time before the sale commenced, the great room of the
Auction Mart was attended by a very numerous and
respectable assemblage, among whom we noticed seve-
ral of the Shareholders, and others interested in the
concern. This extensive property was bought in March
1825, for the Equitable Loan Company, and the purchase
money then given was 12,60 W. since which upwards of
4,0001. has been expended in repairing and decorating
the edifice, which is a quadrangular range of buildngs
of st,ne work, with a circular Loggia entrance, sur-
mounted with a Theatre, fitted up, and a dome—a spa-
cious court yard, and on each side, houses containing
numerous large and secondary rooms, porticoes, stair-
cases, &c. and a statue of Charles 11. in front of the rear's
part of the structure—the whole occupying a site of
ground of the average dimensions of 100 feet, by a
depth of 185 feet.
Mr. HOGGART, the anctieneer after reading a long
and detailed account of the building, and the condi- ,
tions of sale, which were of the usual description,'
stated that the cost price of the whole to the vendors
was nearly 17,0001. and he considered the purchase of
it an excellent speculation, as the contiguity of the New
Post-office, and the probability of the building being
thrown open to Newgate-street, would greatly enhance
the value. It was also likely that the Corporation of
London would, at some future time, have occasion for
the site to add to the space of Newgate prison. If,
however, it should be taken down, there would be ground
for the erection of thirteeh third rate houses ; this would
be a very profitable speculation, although he was sure
the letting of the College would prove most advanta-
geous. Mr. Hoggart, after observing that the whole
estate was freehold and landtax redeemed, solicited the
company for their biddings.
Here Mr. Fortune and another Gentleman put a few questions as
to the nifty of the title deeds.
Mr. HOOGART said, the same title would be assigned
to the purchaser as the vendors received, when they
bought the estate in 1825, and that title was an approved
one. The College of Physicians purchased theground,
on which they afterwards built the College, so far back
as 1661, and it was obtained immediately from them
at the time he had above stated.
Mr. Joust WILKS, solicitor to the sale, said, that at
the period named, when the property was purchased for
the Equitable Loan Bank Company, the title was sub-
mitted for consideration to an eminent lawyer, who
pronounced it a good one.
Two or three other questions were then put by the same indi-
viduals, and were answered briefly by Mr. Wilk, and Mr. Houart,
land the sale proceeded.
The first bidding was 7,0001. and after a slight com-
petition it was knocked down at 8,9801. a sum not much
more than one half the money expended by the Company
in the purchase and repairs of the College.
The site of the above building in the hands of the
Corporation of the City of London, would materially
improve Newgate Market, or the Prison of Newgate it
immediately adjoins in the rear. It was reported before
the sale began, that the building would be purchased
for the former object by the Corporation, but it after-
wards turned out to be totaUy unfounded.