CIVIC SQUARE LAND.

New Zealand Herald, Volume LXIV, Issue 19671, 24 June 1927, Page 14

CIVIC SQUARE LAND.

OFFERING OF THE LEASES. SUBDIVISION PLAN APPROVED. LOTS IN LARGE BLOCK FIRST. A plan of subdivision for the leasing of sections on the Civic Squaro area was adopted by the Auckland City Council last evening. The plan was referred back to the Parks Committee at the last meeting in order that all sections might be properly defined and made available at the earliest opportunity. The committee recommended that the lots in the block at the corner of Queen Street and Wellesley Street West, the largest of the four blocks, should be offered at auction as early as possible at upset rentals to be determined by the committee. In regard to the lots available in the rest of the subdivision, it was recommended that these should be offered as and when the committee considered desirable.

Under the subdivision proposed, the block at the corner of Wellesley Street West and Queen Street was cut up into nine sections ranging in area from 20 to 12£ perches. The two corner sections fronting Queen Street had frontages of 52ft. 6in., and three others lying between thern 48ft. Bin. each. Of the four sections facing eastward, two had a frontage to the new street of 52ft. 6in. and the others 81ft. and 66ft. respectively. One section nearer the Town Hall, with three Btreet frontages, measured 52ft. 6in. to Queen Street and 125 ft. sin. to the new street running east and west. The plan also provided six other sections fronting Albert, Cook, and Wellesley Streets, on the western part of the old market site. Smaller Sections Urged.

" I consider the sections are too large," said Mr. A. J. Entrican. He suggested the best frontage would be 26ft., which would give space for a double shop or two small shops. Again, it was proposed to utilise a great deal of the land for streets, and the council would not derive from the area the amount of revenue it should. He moved an amendment that tho plan should be referred back to the committee to reconsider tho size of the sections.

Mr. G. Ashley, in seconding, expressed tho opinion that the terms of the lease— l 66 years without right of renewal or compensation—would not attract the right class of person. The Mayor,, Mr. G. Baildon: The terms have been approved.

Mr. J. A. C. Allum said that if the frontages of the. sections were reduced, then it would appear the height of building would also be curtailed. The land must be taken up by people of considerable financial standing, and small shops would be provided by the owners for those who wanted them. He had no objection to tho term of 66 years, which would not be a detriment from the investment point of view. However, for that term a sinking fund of only 6s per cent, would be necessary, and it was possible that in the later years of the leases the buildings would be neglected. Estimate of Annual Rent. Mr. S. I. Crookes said persons of small financial means could not pay the rent, even on a 26ft. frontage. Ho estimated that on that basis the annual rent would be about £650. Buildings on such a limited frontage did not lend themselves to adequate architectural treatment, and only buildings were wanted which would be a credit to the most important street in the The committee could not by law give a lease beyond 66 years. The sinking fund would be very small and the whole cost would be wiped out at the end of 66 years. Mr. L. A. Eady: I take it that if the sections in the, first block are disposed of quickly, sections in the other blocks will be offered as soon as possible. The Mayor: Yes, if the demand is there.

The amendment was lost and the com mittee's recommendations were adopted.