CITY VALUES.

Auckland Star, Volume LXIX, Issue 221, 19 September 1938, Page 3

CITY VALUES.

IN PITT STREET.

FIRE STATION SITE.

CASE FOR CLAIMANTS.

The hearing of claims for compensation for property in Upper Fitt Street taken under the Public Works, Act by the Auckland Metropolitan l'Tte Board was concluded in the Supreme Court to-day before Mr. Justice Fair, with the Hon. .T. Alexander. M.L.C. (claimants) and Mr. \Y. H. Lunn (respondent board) as assessors. Mr. H. J'. Richmond appeared for the Lennox trustee*, whose claim was Cl«.i«!l, and Mr. V. R. Meredith for •Joseph Zambucea. who claimed £11.500. Mr. A. K.'North represented the respondent Eire Board. Kinal evidence was directed to the application of the city by-laws to purposes for which the properties might be used. 11l hi- address to the Court. Mr. North oniiil.a.-i.M-d the aspect that the hoard had lii-d vu'.iiai'.osis taken on the rentals and Miles o; properties in the locality. and had made offers to the claimants on a fair nnd equitable ha is. Cmm-el eilluiiittfd tiiat claimants had endeavoured to construct a highly artificial value for the properties, based en suggested special ti-cs for the properties. Mr. Richmond, on behalf of the Lennox trusteis, said that their claim was not based on rentals for retail shops, but was based on the fact that the property wan a unique area by reason of its size. physical characteristics and position for certain business undiTtikings. These characteristics he detailed as heinpeculiarly suitable for premises for the motor ii»lu.-t.ry. and having a remarkably high potential value. Mr. Richmond's address was proceeding when the luncheon adjournment was taken.