CITY DEAL.

Press, Volume LXIII, Issue 18906, 22 January 1927, Page 12

CITY DEAL.

NEW SYNDICATE FORMED.

ACQUIRES VALUABLE LEASEHOLD.

An important City property deal has been effected, a syndicate of local business men. trading as the Lichfield Syndicate, having acquired the leasehold of the block of laud on the corner of Lichfield and High streets, at present occupied by Messrs Strange and Co. The property lias a frontage on High street of 106 feet, and 200 feet on Lichfield street. It includes the whole cf the four-storey buildings on the corner and a portion of a three-storey building fronting on to Lichfield street. Strange's, who have two years of their present lease still to run, own the freehold of the remaining property occupied by their firm on High and Lichfield streets.

"With reference to the report of the acquisition by a local syndicate of a lease of the corner block in the High and Lichfield streets now occupied by Messrs W. Strange and Co.. Ltd., Messrs Strange and Co. inform us that tie company hold such corner block under a long lease, which expires in 1929. They ""have been offered an extended lease, and also the freehold of that block at a certain price, but, as the directors and shareholders of Messrs Strange and Co. have decided to make material extensions and renovations to the freehold property of the company, the greater portion of which runs through from High street to Lichfield street, and has a frontage of 104 feet in High street and a considerable frontage in Lichfield street, they some time since came to the conclusion that it was not in tho interests of the company to acquire the corner block after the expiration of the present lease, and the agents for the owner were so notified.