OLD RAILWAY SITE.

Auckland Star, Volume LXV, Issue 22, 26 January 1934, Page 3

OLD RAILWAY SITE.

VALUATION OF SECTIONS. SETTLEMENT TERMS. The terms of the settlement between the Auckland Harbour Board and the Auckland City Council concerning the valuation of sections in Quay and Customs Streets, to b© acquired in connection with road access to the old railway station site, were disclosed at last nightfs meeting of the council. In regard to the property of Duthie, Bridson and Company, Ltd.. in Customs Street, the Mayor, Mx. G. W. Hutchison, reported that the total, compensation payable in settlement would be £10,203, representing £325 per foot, for the land, and £6762 for the building. Compensation for the party wall was a matter to be settled between the Harbourßoard and the adjoining lessee. Division of the £16,966 'between the owner and the hoard as lessee was: Owner's interest, £7575; lessee's interest, £9391. At the same conference, at which the other settlement was discussed with the Harbour Board, the value of a section ot tlv> Harbour Board in Quay Street was fiyed at £5176, the equivalent of £16pcr foot. The Mayor sought authority to compete negotiations and arrive at a settlement concerning another Harbour Board section in Quay Street, one leased by Mr. J. C. Spcdding,_ and on which a hveftoreyed building is erected. The settlements were approved, Mr. IT P. Burton placing on record appreciation of the manner m which the Karbour Board had carried out the negotiations.