POST OFFICE SITE.

Auckland Star, Volume LVI, Issue 111, 13 May 1925, Page 5

POST OFFICE SITE.

(To the K.litor.) Sir,—Tliorc arc only thri* points in Mr. Hold's lonjj letter. The lirst ami principal one is that, compared with j himself. 1 know lit tio or nothing about | compensation cases or lnn<! values, the i second is that lie intends to try to «et more tlian tlic property is worth on tin' pretence Unit it is impossible, to build public offices except in Short land Street. and the third is that the City Council leased a section near the driil hall to the IClam School of Art at £1 per annum. The lirst two are not worth it rp'Jy and the third has nothing to <b> with Short land Street values. The <'ity Council does not want a lease lit •a peppercorn rent, but is ready to pay I the full market price. Mr, Hold's effusion would have had more effect if lie had replied to my i|ueslion as to whether he can find a tenant at £12,780 I per annum, being II per cent on his own valuation of £21:1.000. lie is probably not too anxious to answer, because if he said "no" it would prove his valuation excessive, anil if he said "yes" the ( ity Council would probably let it to him for 20 years and defer the construction of the street. I am. etc, H. I-:. YAII.K.