IN ADELAIDE ROAD.

Dominion, Volume 4, Issue 1060, 24 February 1911, Page 2

IN ADELAIDE ROAD.

/ SOME CITY'EEAL ESTATE. • ' SELL IT OR! LEASE'IT? / The disposal of eight sections owned by tho City Council in Adelaide Road gave .rise to some idebate- at. the meeting of.that,body last evening. The sections . front Adelaide Road and Gibbon Street. They are part of the.old horse tramway shed sit 6. The Finance'and • Property Committee rccommended tliat the sections should be put/up-for sale or lease-by. auction,''the reservo to be fi«d by the City Valuer.' v ■ . In, answer, to a question by' Council!or Carmichael, tho Mayor 'explained that; some time ago, the Council pasaxl a reso-; lution that the sections should bo offered (in accordance ivitli jhq Jaw bearing on Hit-matter) to adjoining owners. The ndjoining- owners, however, had. refused to purchase. : Part of the land had been sold to the Catholic, Church in conr.a--tion with a school. The council now proposed, to .put up the land for'leaso or salu altsi'nativeljv . Councillor Carmichael remarked tbat ho- would prefer to see the sections leased rather than fold, ■] • ■■. : ; The Mayor said that personally ;he held a similar opinion, but there.was the previous, resolution of the council to be con..which'.provided that the land should be sold.', i Councillor Trevor, stated that he would like to moVe that the land should be put up for sale. The. rent of the property would not pay interest. . Councillor Hindmarsh suggested that the land might in future provide a site for a Technical School. The Mayor thought that in future the land might; be very valuable. At the same time little sections, acquired here and there in connection with tho streetwidening scheme, must bo 1 disposed of, and tho proceeds • placed towards; streetwidening in Willis Street. It was understood that this must go on.. Councillor Hindmarsh moved, ■ and Councillor Carmichael/ seconded:—That the sections mentioned in the, committee's report should; be put up for lease, instead of,being sola. " , Councillor .Fitzgerald inquired whether there was ,a sinking', fund; for the old horso tramway loan of .£20,000, and whether the proceeds from the sale of this land would cover the amount of the loan. Th 6 Mayor replied in the ■ negative ,to both questions. There was, he mentioned, a sum of-.£5000 (proceeds of ft sale) to set against, the loan. ' •■personally, Councillor Luke stated, Tie was very much against selling any city property, but something ought to be done towards liquidating the old horse tramway loan Councillor Barber was of opinion that it was no use trying to sell. this pro-; p cr ty in: its present state. These sections were covered with old dilapidated buildings, and, until Some improvement had. been made in the locality, the selling value of the land would'not be sufficient to justify the council in parting with'it. The future prospects of the district were great, but the, council should demolish these dilapidated buildings, arid incidentally increase the value of a city asset.,. Councillor Shirtcliffe favoured selling the sections. At present the city lost bv holding these sections, apart from loss-of rates. A portion of this property had alreadv been sold.' There might be some difficulty in: selliiig it just at present, but theire could be no harm in'trying to do so:'' He. would support tho clause as it stood. ■ \ : Councillo: 'Frost thought, it advisable that the property should be sold at once and applied to industrial uses.' The locality .was suitable for factory sites., On a division, the amendment was carried by-B'votes to G. The sections.will, therefore, bo put up for lease only. ; ;