Perpetual Leasing.

Manawatu Standard, Volume VIII, Issue 130, 12 November 1884, Page 2

Perpetual Leasing.

(Post.)^ We publish to-day the official announcement of the sectional areas, with the upset prices attached, of the Crown lands m the Forty Mile Bush District to be offered to the public next month under the perpetual leasing clauses of the Land Act. As this is tke first occasion on which the Wellington Waste Lands Board have offered land for leasing under the Amendment Act of 1882, it may be useful to intending settlers if we sketch the outline of the system which is now introduced to their notice. We must say at the outset that although called the perpetual leasing system, it is nothing of the kind, for the simple fact that there is a purchasing clause which may be taken advantage of by the leaseholders any time, between the sixth and eleventh year of their occupancy. The upset rentals are fixed at about an average of 5 per cent, on the capitalised value of the land. Tenders are to be sent m by applicanta on a certain date (m this case the 10th December}) accompanied by a statutory declaration as to. their qualification as tenderers and six months' rent at tho rate tendered. Where tenders are equal the case is to be decided by lot. The leases are for 30 years, and are subject to very strict but at the same time easily-observed conditions as to residence and improvements. Any person of the age of 18 can tender for and execute one or more of these leases, but it is one of the most stringent condition that no person can be, a lessee who thereby owns or occupies more than 640 acres m the colony. An important provision is that which relates to the renewal of the leases at the end of the term. Three years prior to this a fresh valuation is made of the value of the land, deducting improvements, and a copy of this is sent to the lessee, who has the option of renewing at the increased rental or surrendering his lease. The principal advantages of this system are that it leaves the occupier his capital to work the land, ,gives him the power of pnrchase jf he "finds it to his advantage, and m the fresh valuation allows the original holder or his heirs the full benefit of any improvement which m*y have been affected.