CIVIC SQUARE RENTS
Sir, —Ratepaj'ers generally will, I feel sure, approve the action of the City Council in further reducing the ground rents of the Civic Square. These are abnormal times, and in the council's action a spirit of understanding and sympathy is evidenced which appears to be so often lacking where many lessors tire concerned. Had the council known all the facts, I am confident it would not have granted the reductions without imposing the condition that such relief must be shared by tho shop tenants, who are also unfortunately bound by leases. I have recently had the opportunity of examining the balance-sheets of certain of these shop tenants, and I feel certain that the losses there shown are not less than those disclosed by an examination of those of the ground lessees. However, tho concession is for twelve months only, and before any renewal is granted doubtless the council will take steps to see that fair play is given to the tenants of those shops who are bound by leases. Equity.
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New Zealand Herald, Volume LXX, Issue 21546, 18 July 1933, Page 13
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173CIVIC SQUARE RENTS New Zealand Herald, Volume LXX, Issue 21546, 18 July 1933, Page 13
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