KARANGAHAPE ROAD LEASES

Auckland Star, Volume XLIX, Issue 46, 22 February 1918, Page 6

KARANGAHAPE ROAD LEASES

EXTENSIVE REPAIRS. TOTAL COST ABOUT £2,500. A report was submitted by the 'Reserves Committee to the City Council , last evening in reference to the Karangaiinpe Road leases, comprising some . twenty shops botween Howe Street and the reservoir, which will expire in March next. Thi* included a report from Messrs. S.. Yaile and Sons with recommendations public tenders be called for substantial repairs, the old tenants being first consulted as \ to whether they could afford the increased rents: that if this were not done only repairs for the preservation of the . buildings should be effected. The repairs, it was staled, would probably run | into £2000. but might be reduced to £1500. After this work was done the shops should return a gross rental of not less than £1350 per annum on three-year leases. The City Engineer also reported having made a careful examination of the repairs which would he necessary, and ettimaied the total cost at £2503. The committee recommended that the repairs be carried out at a cost not exceeding £2000. a subcommittee, com- J prising Messrs. Warnock and Baildon. j to be given power to act in the matter of any necessary amendments to the proposals. It wiia recommended that Messrs. Vaile and Sons take over as a special account the Karangahape Road property, provide the amount required for the repairs at 5 per cent, ar.d credit the rent receipts aguinst the sum so advanced until liquidated, the agency of the property, tenancies, etc.. on such | terms as the Council could legally give, to be in Messrs. Vaile's hands after the expiry of the current leases. i Mr. Holdsworth deprecated the fact that this work should be given to. an outside firm. Mr. Xerheny suggested that the upset price on the proper! ies was too high, and that it would be better to reduce it. Mr. Entrican stated that the position was one that bristled with difficulties. Many of the Council's properties were in a bad state of repair and needed attention. It semed to him. however, that with the machinery at the disposal of the Council it.should be possible lor, it to collect its own rents. ; The Mayor: The proposal includes the' getting of tenants, you know. j Mr. Baildon pointed out that if the. proposition were not accepted the allocation of the Works Committee would have to be cut down. I The Mayor stated that it was really; immaterial to the committee. The' work had to be. dune, and if it were not , done in this May the Council would have , to be prepared to lind the sum from the; genera! account to carry it out. I After further discussion the nvom- I lnendation of the committee was agreed ! to.