OCCIDENTAL HOTEL.

Dominion, Volume 1, Issue 228, 19 June 1908, Page 9

OCCIDENTAL HOTEL.

MATTER BEFORE CITY COUNCIL. The City Council decided last ovening, subject to confirmation at a later meeting, to accept surrenders of tho following leases on tho Lambton Quay reclaimed land- from Kirkcaldio mid Stains, Limited:—(l) Lease of Sections 93 and 114, (2) lease of Sections 112 and 113, (3) lcaso of Section 111, and to grant now leases in respect of the leases so surrendered, the first term of the hew leases to bo for tho .unexpired term of the several old leases, and to-contain provisions for perpetual renewals at a ground rent to bo fixed by' valuation for successive periods of 14 years. Tho lease of Sections 98 and 114 to contain a covenant to commenco to build within one month of the. date of the lease, and to complete with all reasonable dispatch a building of tlio value bf at least £10,000. Tho rent of the lands leased under leases (1) and (2) to bo increased to tw6 and a half tidies tho present rent for the original term under tho hew leases; and the rent of the land leased under lease (3) to bo increased to;four times the.present rent for tho original term of the new. lease. Tho provisions in 'these leases to bo tho same, as far as possible, as tho To Aro reclamation leases, and tho form of tho leases to bo finally approved by tho City Solicitor.

The Legislation and Leaseholds Comniitteo reported that they had dealt with tho question of tho leases of .Messrs. Kirkcaldie and Stains, Limited. . Messrs. Kirkcaldio and Stains, _ Limited, .desired to have the leases of Sections 98 and 114, Occidental Hotel site, 112 and 113, sections lately occupied by Dr. 'Henry, and Section 111, Old Wellesle.v Club site, converted into perpetual leases, similar to leases of tho To Aro reclamation, and in accordance with tho policy of the Council during tho last eight years. In connection with their application j tho Committee decided also to deal with tho question of tho Occidental Hotel license. Ml 1 . Kirkcaldie, having been approached on the matte:-, made an. offer to tho Corporation. This, offer may bo summarised as follows:—He wishes to surrender his Occidental Hotel lease, and to pay in addition an increased rent of £270 17s: 6d. jier aimum for tho term of 51 years, that being tho balauco of his present term, and'ho asked that ho should get renewable leases, the llcriods of renewals to ho 21' years. He also asks that the new rental should bo fixed on a 4 per cent, basis, and tho Corporation should withdraw its opposition to tho. transfer of tho Occidental Hotel license. Tho increased rent, offered by Messrs. Kirkcaldio and Stains is as follows:— Present—Occidental Hotel, £109: proposed —£218; present—Dr. Henry's,. £81 os.} proposed—£l62 10s.; present—Wellesloy Club site, £28 175., Gd.; proposed—£ll3 10s. The Committed, after very careful consideration and full, discussion of tho matter with Mr. Sidney Kirkcaldie) agreed to tho following terms-Occidental Hotel, Stations 98 and 114, present Glasgow leafee to bo surrendered, And converted into a lease providing for por- . potual renowals, without auction,'first terms to bo 5Jr years from June 30, 1908, and tho renewal periods to bo for 14 years, tho period usually fixed by tho policy of tho Council. Tho rent is to bo increased 150 per cent., And Mi\ Kirkcaldio is to enter into a Covenant to start building within ono month of tho completion of his lcaso.. Dr. Henry's Into sections,. ScCtiolis 112 and 113.—Lease to bo granted on the saiiio terms, with in) building covenant, as a fcrro-coflcreto building is at present' iii eofirsb of erection.' Tho rent i 3 increased from £81 ss. to £203., Vi'ellesley _ Cltib site, Section 111.—A similar lease is to bo granted in this caso, and the font is to bo increased fourfold, £28 17s. Gd. to £115 10s., tho building to bo commenced At expiry of present sub-lease. Tho increases on alt leases iimtiunt to £373 per annum, or in 5J years. £2051 103. TII6 Committee declined to Be hound dowii to any porcdntago 011 which tho rent is to bo assessed. Tho Committee, however, had to feport that tliey ha'vo givenihe City Solicitor instructions to withdraw its opposition to the transfer of tho license of tho Occidental Hotel,' (in Mr. Kirkcaldio agreeing to the terms of this report. Tlio report of tho-Committee will be considered at a special meeting of tho City Council nest Tuesday, evening.