CITY PROPERTY DEAL.

New Zealand Herald, Volume LXVI, Issue 20405, 6 November 1929, Page 10

CITY PROPERTY DEAL.

BUILDING IN WELLINGTON.

PURCHASE BY THE COUNCIL.

[BY TELEGRAPH. —OWN CORRESPONDENT.] "WELLINGTON, Tuesday. One of the biggest recent deals in city property was concluded at a special meeting of tho Cky Council to-day when the council unanimously agreed to purchase the property of the Wellington Education Board, extending from Mercer Street to Wakefield Street, for £51,000. This will make the City Council the owner of the whole of this central triangular block, the base of which is tho Town Hall and the apex the Central Public Library. It is another step toward i.ho realisation of a civic ideal which has for some years seemed inevitable. The terms of the sale, which has to be approved by Parliament by means of a clause in the washing up bill, are that the Wellington City Corporation sh<\ll pay to the board the sum of £20,000 on the completion of tho sale, the rqmaining £31,000 to be paid in three equal annual payments without interest. The public library is hard pressed for room and this deal makes a way for the extension of the library into the Education Board's block on the Mercer Street frontage at an early date by cutting openings in the wall that divides the two buildings.