GROWING UPWARD.

Auckland Star, Volume LX, Issue 37, 13 February 1929, Page 10

GROWING UPWARD.

SYDNEY'S BUILDING ACTIVITY. DEMAND FOR RESIDENTIAL FLATS. "AFTERTHOUGHTS , ' ON BUILDING LIMIT. '•Sydney lias gone through many building phases during til" last five years. There was a suburban shop boom, next came petrol stations, and now it is residential flats. , '

The above remark was made this morning by .Mr. K. A. Galc T of Sydney, one of the biggest owners of resid?ntial flats in Sydney, who is on his way to America to pick up new ideas in the building line, in a search for arehitec-

tural improvements

Mr. fJalc mentioned that the building limit in Sydney was fixed at l."» 0 feet, but "afterthoughts" were allowed for in the way of caretaker's premises, etc.. while one city firm had arranged to add to the 150 ft height of their building with an "afterthought"' in the form of a tower a hundred feet high, this to be capped with a large ball, in order that it should be the outstanding landmark of Sydney's architecture. There was an agitation to get the building limit raised to 200 feet, and if that were allowed many buildings of that height would at once be commenced.

He said that in one suburb of Sydney £340 a foot had been paid for a site for flats. The modern flat there had every possible convenience and laboursaving device, and rents of £5 5/ a week for three rooms with a kitchen and bathroom were readily paid. He knew of an instance where a flat was let for 22 guineas a week, that being decidedly an exception. and not the rule. One of the latest buildings contained T") bachelor flats, all self-con-tained, served by elevators, and refrigeration and hot water from electricity provided. It was typical of the latest type of building, and the demand for that type of structure was still unsatisfied.

The visitors mentioned that the record price for property in the city of Sydney was £3200 a foot, and office rents were worked out on the basis of 12/6 per square foot per annum. The square foot basis was general in assessing values. Recently five wards in the city were revalued, the increase in valuations being eight millions. There was quite a real estate boom at the moment, which was reflected in Sydney's seaside resorts. At Bondi a cafe and cabaret had been leased for £.->OOO per annum. One striking development of late years had been on the lirst as well as the ground floor of city premises. There was apparentlv plenty of money available for sound real estate, the piling rate of interest for mortgage money being 7 per cent.

Mr. Gale said that he was favourablv impressed with the architectural trend in Auckland, although the city maximum building limit was fifty feet less than in Sydney. He regarded the general class of suburban home as equal to anvthing in Australia. On could not help admiring the type of suburban home in Epsom and Remuera. where green lawn* and ornamental trees gave a very pleasing effect.