CANBERRA BUILDINGS

Evening Star, Issue 19662, 15 September 1927, Page 13

CANBERRA BUILDINGS

REM A R KABUL GR O W TIL Interesting facts showing the progress of events in tho Federal Capital Territory were supplied recently by the Minister for Home and Territories (Mr Marr). Hq said that up to June 30 there had. been expended £5,373,490, made up as follows:—Acquisition of. land, £799,980; cottages, £904.324; electric light and [lower, £195,906: roads, £693,348; sewerage. £768,132; water supply, £4.40,256; Parliament House, £650,473; hotels, hoarding-houses, etc., £522,954; public buildings, £303,117. Mr Marr said that in 1911 the revenue had been so small as to he almost negligible, but there had since been continuous and remarkable growth, as tho following figures would demon-strate39ll-12. £261; 1911-15, £13,570; 1919-20, £26,566; 3922-23, £56,-41-1; 3924-25, £90,476; 1925-26, £154,3.95; 1926-27, £367,506. Tim indications were that the revenue for the sent financial vear would exceed £500,009.

The prices realised lor 131 city leases .sold to the public totalled £256,314. representing an annual ground rental of £12,816, he added. The value of 830 ciiy blocks made available tor public servants and others was ,£213.1(i0, from which an annual ground rental would lie obtained. In addition. 360 rural holdings, comprising an area ol 181.726 acres, had been leased at rentals aggregating £36,895 annually. At the last subdivision:)! sale ol city lenses, held on April 9, 3927, twenty business sites had been offered and sold, the prices realised representing a capital value of £57,600. _ These sites consisted of twelve rclail_ trading blocks at Civic: Centre, lour industrial blocks, ilircc hoarding-house sites, and one motor service station site. The Minister considered it worthy of note that, although the upset price of the service station site had boon fixed at £3,000. the actual purchase price was £11,300, a result winch appeared to indicate public confidence in the development of the city. A large number of shops had already been built nv private enterprise, and the a modern town wore now available. Hie law relating to the registration o> leases was listed fin the “ Porrens system, and leasehold certificates ol title wore being issued. Ihe effect ot this was to render leases safely negotiable. and to facilitate commercial dealings with land. In addition to leases in the citv area, a considerable portion of the Territory land had been leased for crazing and agricultural purposes, and steps were now being taken to encourage. settlement on smaller holdings for fruit growing and dairying. Mr Marr expressed the opinion that the Federal Capital was destined shortly to become the home of manv large institutions, and. in support of this view pointed to tho growing disposition on the part of interstate liodies to hold tbeir annual conferences there-