THE HEATH ESTATE.

Dominion, Volume 2, Issue 458, 17 March 1909, Page 7

THE HEATH ESTATE.

ITS PURCHASE DISCUSSED. ;■ VIEWS.OF CITY COUNCILLORS. • :The ma'ttor of the purchase of the Heath ■ Estate, or certain parts of it, by the city, has: recently been discussed by tho City Council in committee. This estate is roughly that area ci land encompassed by Manners Street,. Willis Street, St. Hill Street (off Manners Street), and Old Customhouse Quay (off Willis Street), and is one of the original town acres in the Now Zealand Land Company subdivision of Wellington. It actually remained the Heath Estate until three or four years ago, when it was acquired by an enterprising syndicate who disposed of it 'to the syndicate now in possession. With frontages to Willis Street and the north side of Manners Street, the land is one of the most , valuable blocks in the city. Without any movement on the part of the City Council, tho question of acquiring- the frontago, properties in Willis and Manners ~ Streets has been introduced into the business ,of tho Finance Committee of the council, and on one occasion .a ,iv.el)rknown jland agent '. .was. permitted to. address -the-committee, I,: urging the desirability ofjithenoityracquiring • the . property generally as the Heath Estate. .. :-•..■_. . .-.-. The first .proposition, was that the council .should, consider ..the .advisability..of -paying " the" sum ; of'£loo,ooo for certain frontages between Old Customhouse Quay on tho Willis Street side, and a point between tho Duke of Edinburgh Hotel and St. Hill Street o.i the Manners Street side. The proposal, it is understood, was not received with any enthusiasm, and ono councillor stated frankly ■ that, it was not the time for the city to go in for anything in the nature of speculation in land. If they could see their way to take the land, widen the street, and soil the sections at a profit to-morrow, it might be a good thing, but that sort of thing was out of the question. The land would need to be sold at. something like £250 a foot, and in addition people ■ would , need to have the money to build before they could got any sort of a return. It was all very well to say that it.could be sold right away (20ft. sections was the proposition), but-the history of the disposal of city lands by the council did not show that, and the city might be burdened with tho property for years; paying interest without; an adequate return. Ono councillor was of opinion, that they ■ might seo if it was a favourable- opportunity to purchase tho .ten-foot strip m Willis 1 Street, which would in any case havo to bo paid for wHen the owners sot back. No decision was.come to in regard to tho .matter; but : it; , was"afrain'introduced, at a' subsequent' meeting, when it is said that it was proposed that £85,000 be offered to tho owners for the land formerly considered at £100,000, but councillors did not approve, find the matter remains" in abeyance.