OLD TECHNICAL SCHOOL
DISAGREEMENT ON VALUE
For a long time now the City Council has been negotiating for the freehold of the old Technical School site in Wakefield Street as a step toward the acquisition of the whole of the Town Hall-Public Library block. As the Department of Education has provided a new Technical College building on Mount Cook, the purchase of the property mentioned becomes one for negotiation between the Minister of Education (Hon. H. Atmore), as representing the Government and the City Council. Values have been made on both sides, and though they do not agree there is a matter of only a few thousand pounds between them. The council is prepared to go as high as £50,000, whereas the Department is holding out for about £54,500. There is a deadlock at present. It seems that the Government Insists on fixing about £15,000 as the value of the buildings, which are not adaptable to corporation purposes as they are, and cannot be added to (in the way of extra stories) as the walls are not sufficiently strong to carry them. Consequently, from the council’s point of view, the building is an encumbrance rather than an asset, as when acquired it would, sooner or later, have to be demolished to make way for a structure more worthy of the value of the site.
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https://paperspast.natlib.govt.nz/newspapers/DOM19291002.2.49
Bibliographic details
Dominion, Volume 23, Issue 6, 2 October 1929, Page 10
Word Count
224OLD TECHNICAL SCHOOL Dominion, Volume 23, Issue 6, 2 October 1929, Page 10
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