RENEWAL OF LEASE.

Press, Volume LXVI, Issue 19970, 3 July 1930, Page 14

RENEWAL OF LEASE.

WAREHOUSE AT |H LYTTELTON. REFUSAL BY HARBOUR BO^gH After having held the lease ofim warehouse, the property of the LjnH ton Harbour Board at Lyttelton -JH forty-two years, the New Zealand and Mercantilo Agency Company VmNI for a renewal for a further seven years was rejected by the BaM at its meeting yesterday. The perty will be' taken over, and pany paid an amount of £3350, jBH sum having been agreed to by -bmH parties in accordance wi.th a provWHj contained in the present ieaso. In - discussing the matter, brought up as a recommendation efiflH Standing and Finance chairman (Mr 11. Holland, that, although the company had|M| two ; leases, each'-of twenty-one.|9| they had not-applied for a similax-M|S£| but only for a seven-years' tenanjuflfl the Board adopted .the. reeu.u.iiiiMHH tion of the committee they be taking anything from the cmhHH as provision waa-madc in the leaso'for such' a course to be valuation of the property at £33989|H been agreed upon by both Mr W. J. Walter said i£ the.JBM took over the property be done in the matter of chugHHH ■some of them now made weretmHß tioiiate. • IKH The chairman, said, that the MSUHH charges would be a matter for ttaraHH consideration: of' the Board. - AflHHj tion at the present time was tluraflH| might be. some drastic made at the- port, and if was. given a seven years' lease mean that the Board would- iWB have to take over the propertJ]|9jH would»also have to pay of the remaining, term of the a straight business .present idea of the good one. His personal opisHjHH that the Board should run sheds." 'JHb The secretary' (Mr C. H. said that if after taking over'fMiMß perty they found it was not concern they could lease it agsi* 4HH time. 'tigUm Mr Walter said the present WW amounted to 4s a ton, out of the pockets of the Commenting on the state ing,. the ' chairman ' said "it good. - When'a valuation in" IPO9 the figure had bse» The reason, that it had deter*tfJ|HH| little in value was that in timber and labour were The report was adopted.">^|^MM