LONDON RENTS

Wanganui Chronicle, Volume 74, Issue 143, 19 June 1931, Page 9

LONDON RENTS

DOUBLED SINCE WAR. Experts irum the City Corporation •ire preparing their quinquennial valoa ; ’ion or property in the City of Loudon says the “Daily Mail.” When their report is issued, thi “Daily Mail” understands that it wii show a remarkable increase in the rateable value of the “Square Mile.” During the last five years numbers of leases have fallen in and been renewed ut double or treble the original rent. Numbers of small coffee houses and restaurants which for years have paid £l9O a year are now rented at five times that sum. so greatly has the value of space in the city increased. There is many a romance of property in the city. For instance, a small building in Cripplegate which in 1860 was rented at £lBO is now rented at £7OO A still more remarkable example i* that of property the rent of which has jumped from £4O to £4600 a year. An official of the City Corporation said recently to a reporter: “It is early yet. to prophesy, but I am sure, from the figures we have, that there will be show’ll a tremendous increase in Ihr v&lue of the city rents. They arc at least double those of the pre-war period, and in many cases ten times those of the last century. “Little shops, bought more than a hundred years ago. have turned out veritable gold mines when they were let on lease by the fortunate owners. Whatever happens tho city will always re main a mine of valuable property, liecause for so manv businesses s <it« fiffiee is esaeutiHl. ”