CITY CHAMBERS LEASES.

New Zealand Herald, Volume LX, Issue 18355, 22 March 1923, Page 9

CITY CHAMBERS LEASES.

GLASGOW SYSTEM SUGGESTED

EDUCATION ENDOWMENT.

The /matter of the leases" of the City Chambers and offices in the block of buildings extending from Victoria Street to Darby Street was the subject of discussion recently by the Public Trustee and representatives of the Education Department and Auckland Education Board. This block was originally intended to be used as a Supreme Court site, and is en education endowment, the Education Board receiving one-third of the revenue. The conversion of the present tenure to the Glasgow lease system was discussed at the conference, and at yesterday's meeting of the board Mr. A. Burns leported that the present revenue received by the board was £1692, and the leases had still about 19 years to run. An offer had been made by the tenants of an increase in rents, but . this was very moderate, and the Public Trustee had advised the board not to accept any offers of renewal of leases at present, but to deal with them as they fell due. Mr. H. S. W. King expressed the opinion that the leases were being "farmed" by profitable sub-letting, and he hoped an offer would be made which the board could accept, and which would bring it in a greater revenue, ' Mr. A. E. pfenning said that people who took up these leases many years ago had decided rights, but he hoped the Glasgow lease scheme might yet 1 e instituted with advantage to the board.