CITY LAND

Dominion, Volume 8, Issue 2272, 5 October 1914, Page 8

CITY LAND

SOME STATE VALUATIONS REDUCED

TORY STREET SECTIONS

The sitifng of the Assessmeht Court was continued en Saturday,!' but the business was not concluded, and a further sitting will be held to-day. Mr. W. G. Riddel], S.M., is the president of the Court, and the assessors a?o Messrs. H. B. Leighton (for the Valuation Department) -and T. Dwairj (for the City Corporation).' ; When the Court adjourned on Friday afternoon it was hearing evidence relative to five objections by property-own-ers in Bolton Street to the State valuations of their buildings. These objectors were: Sir James Prendergast (four one-aore sections, total capital valuation £13,995); William S. Wheeler (section 40ft. by 171 ft., capital valuation £1765); M. Kane (section 147 ft. by 165 ft., capital valuation, £4585); Edward James Von Dadelszen (section 33ft. by 17ft., capital valuation, £1530); Helen Ross (section 78ft. by 174 ft., capital valuation £1800). Mr. A.. W. Blair, who appeared for the objectors, Said, that Bolton Street was one of the steepest streets in Wellington, and that on account of the difficulty of access to the properties the valuations were considered to be too high.' After hearing the evidence of N. H. Mapkie, Government Valuer, who offered to agree to a reduction of £1 per foot, and James Ames, City Valuer, the Court decided to mate the. following .reductions ip-Sir ■ James . Prendergast's property, capital valuation reduced from £13.995 to £12,514; M. Kane's from £4585 to £4435; E. J. Von Dadolszen's from £1530 to £1500; W. S. Wheeler's from £1765' to £1725; H. Ross's from £ISOO to £1730.'

Tho'iiext objections dealt with had regard to three Tory Street sections owned by Martin Kennedy. The sections were: Part section 32-1, corner of Tory and Buckle Streets,.34ft. by 70ft., capital valuation £1180, unimproved valuation A'6Bo, improvements £500; part section 236, 16ft. by 70ft., £-170, £320, £150; part section 230, 16ft. by 70ft.,-. £470, £320, £150. , Mr. M. J. Croinbio acted for the objector, and called as a witness L..H. B. Wilson, who expressed the opinion that, owing to tramway alterations, property in Tory_ Street had depreciated in valuo. His estimate of the value of the sections was £15 per foot. He added that traffic through Tory Street was now very much lighter, than the traffic which the thoroughfare carried a few years ago. John S. Swan, architect, also, was called.. Ho stated that he bad put the shops on the sections ,in order, but-that they were only let for a few shillings per week. Tho sections were not valuable as sites for shops or dwellings, because they were situated in. a very poor neichhefirhood. The City' Valuer,, James Ames; was* called by counsel for the Valuation Department (Mr. A. M. Myers). He said that owners of sections at the lower end of Tory Street had asked as muoh as £60 per' foot for their land, so it was absurd to suggest that £15 was a fair valuation to place on the buildings in question. '.'"...' After a brief consultation the Court announced that it had decided that the valuation of-the'section at the corner of Tory and.Bucklo Streets should bn sustained. ' They had, however, agreed upon a reduction of. £3,0 in the unimproved valuation on the other two eec : tions. Therefore, the capital valuation on these two lots will be reduced from £470 t0.£440.■■'.., . The Court now stands adjourned until to-day,:when individual objectors to th» valuations of'land in'the central business area of. the citj wil 'io heard.