LEASE RENEWED

Dominion, Volume 21, Issue 11, 7 October 1927, Page 6

LEASE RENEWED

ACCLIMATISATION SOCIETY’S PROPERTY.

Dominion Special Service.

Masterton, October 6.

A decision to grant the Wellington Acclimatisation Society a further lease of the property it occupies m Masterton was reached at a special meeting to-night of the Trust , Lands Trust Board. The report of the building and leasing committee, to whom the matter was referred for a recommendation, said that the present lease of twenty-one years would expire on April 30, 1933. The rental was £-0 per annum, phis rates, and this year s rates amounted to £26 15s. lid. The section had an area of nine acres odd, with a frontal to Pownall Street of six chains. The leases had no right of renewal, but had the right to remove all of the existing buildings at the expiration of the present lease The committee now recommended that the society be granted a new lease of twentv-one years, the yearly rental for the first term of seven years to be o ner cent, of the Government unimproved valuation as at May 1, 1933, P lus borough rates, with revaluation every seven vears of the term. Commenting that he considered it better to lease the property to the society than to have-it lying idle, as it would be unless somebody wished to build a block upon it, the chairman (Air J hl Coradine) moved, aifd it was'decided, the the recommendation of the committee be adopted.