MERCER STREET LEASE

Evening Post, Volume CVII, Issue 97, 29 April 1929, Page 12

MERCER STREET LEASE

(To the Editor.)

Sir,—ln regard to the controversy between Jlr. A'ash nml Sir. A. .Fletcher, 1 am intonated in this matte.) 1, as 1 was fiillv prepared to oiTer up to £5000 a year for this lease. I did not know at the time that the City Council Was to spend .-C2SOO on reinstating the buildings, which, of ■.■course, made the lease all the more valuable, but the clause making it compulsory lo erect a six-story building to cost not less I him £75,000. within live years after the lease was granted made mo hold back as it mailo quite a 'difference lo the value, of the lease. I would like j\lr. Klolcher to let mo and the public know if that clause is embodied in his negotiated lease? In regard to value of Nimmo's Cornel' as a practical and experienced valuer of city properties, I consider a sum of £33,000 would be a fair price for the whole section, but certainly far too much for half of it, especially as it is quite unnecessary in the near vicinity of Merecr and Manners streets to have another wide street.—l am, etc., OITIZKN RATKPAYI3R.