New Zealand Paid £325,000 For New Offices In London

Wanganui Chronicle, 18 February 1949, Page 6

New Zealand Paid £325,000 For New Offices In London

99 Years Lease At £16,000 A Year; Present Tenancy Rentals £30.440

WELLINGTON. Last Night (PAL—The New Zealand Government paid £325,000 for the site acquired from 11m Carlton Hotel Company in London for New Zealand Government offices, the Prime Minister (Mr. Fraser) announced today.

“According to the best expert opinion available, the purchase price is considered satisfactory, particularly when compared with other land transactions in the central London area,” said the Prime Minister. “It may be advantageous at a later date tq acquire also the land occupied by His Majesty’s Theatre.” The area purchased, said the Prime Minister, was held under Crown lease but the former lease, which was due to expire in 1970. had been surrendered in exchange for a new lease for 99 years at Crown rent of £16,000 per annum. The rents payable by existing tenancies amount to £30.440. “In the meantime, existing tenancies in the building on the site are being continued on a suitable leasehold basis,'’ said Mr. Fraser. “The Carlton Hotel Company itself is continuing to operate the Carlton Bar and Grill in the basement. The remainder of the block is occupied by the United Kingdom Ministry of

Works. His Majesty’s Theatre, occupants of the Royal Opera Arcade, and by two shops.

I “The eventual transfer of the High Commissioner’s office from New Zealand House in the Strand to the new premises will bring together under one roof (for the first time in many years) all New Zealand Government offices in London. At the present time, addition to sections located at New Zealand House, which are very congested, branches are situated at Halifax House, St, Olaf House, in Tooley Street, and at premises in Henrietta Street, Covent Garden. The stores and indents branch of the High Commissioner’s Office will shortly move to the Adelphi Building, in which spate has recently been leased.

“It is, of course always a matter of regret that the ’ excellent building in such a fine position in the Strand, which was acquired by a previous Government for the New Zealand Government’s London offices, should have been sold during the early thirties to the Government of Southern Rhodesia,” said the Prime Minister.