248 Propertieds In Wellington Purchased By State

Bay of Plenty Times, Volume LXXVII, Issue 14916, 2 March 1949, Page 3

248 Propertieds In Wellington Purchased By State

Value Of Land Totals £1,937,463 Loss In Rates To City Council

(P.A.) Wellington, March 1. In the past ten years the Government has brought 248 properties in Wellington of an unimproved value of £302,385 plus improvements valued at £724,070. The purchases are exclusive of a small number where land only was involved. Of the 248, more than 140 were acquired under the Housing Act, 1919, to be used for housing. The number of properties still being used as dwellings is 102, and six are hostels. The Works Department, with 73, has been the biggest individual purchasers Some groups of dwellings have been acquired. In Thorndon Quay, the Works Department bought 13 properties, and in the Mulgrave, Aitken, Sydney Street East, and Molcsworth Streets area, both groups being required for large-scale block developments by the Crown. The same department bought three houses in Sydney Street West because of street works, and two shop and office blocks and two shop blocks in Hampton Quay, and shops and offices in Cuba Street.

The value of land purchased by the State in Wellington since 1937 now totals £1,937,463. ■ The annual rates loss to the city council through the purchases, ex r eluding properties still used for dwellings and on which rates are payable, is £4857. In addition to loss of rates cn earlier acquisitions, there is also a big loss on State tenancies in privately-owned properties. The Crown in many cases is instrumental in making the value of parts of such properties it occupies nonrateable. The overall loss in rates is estimated to be about £IO,OOO a year.