RENTALS REDUCED

Hokitika Guardian, 15 April 1931, Page 5

RENTALS REDUCED

AUCKLAND’S CIVIC SQUARE

CUT OF 20 PER CENT. AUCKLAND, April 11. The City Council has decided that a reduction of 20 per cent, in ground rents payable bv the lessees of Fergusson Buildings, Limited, and Civic House. Limited, on the Civic Square, be granted for a period of one year. This reduction was made in view of the fact that owing to the economic position tlie area in question has not developed as anticipated. Tlie rents per annum which have been paid by tlie lessees concerned are: Civic Theatre £4201, Civic House £O6O. Fergusson Buildings £l-500. The reduction was made at tlie request- of the lessees, who suggested that the position could again he reviewed at the end of two or three years. ACTION AT "DUNEDIN. SURPRISE FROM LANDLORD. DUNEDIN. April U. A pleasant surprise awaited the lessees of certain business premises in Princess Street the other day when they received an intimation from their landlord that he had decided, in view of the prevailing depression, to reduce their monthly i-ent-al account by 10 per cent, for a- period of six months. The landlord’s action was entirely voluntary, no request having been made for a reduction of the rent. The incident-, which is believed not to he altogether singular, affords grati ymg evidence of a desire to meet the conditions that are being brought about by the reduction of wages.