VALUABLE PROPERTY
OVER THOUSAND! POUNDS A FOOT. Per Prosi Association. AUCKLAND, April 23. When tho City Council came to an agreement with the Government by which it received the site of tho Shortland street, post office in exchange for other city properties needed by the Government it was arranged that tho cash balance bo adjusted by arbitration, but the council did not anticipate a compensation claim of over £IOOO per foot for each frontage, viz., £212,935. Tlie building has a frontago of 102 feet 5 inches to Shortland street and 94 feet to Fort street, with a depth of 137 feet. Tho council’s proposal is to use a 40-feet strip in tho centre of tho land for u. roadway and to cut up the residue of ihc sec! ions for disposal by outright sale. The city’s claim for the properties to be handed over in exchange is £43,000. Any dispute is to be decided by a judge of the Supreme Court.
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Bibliographic details
Manawatu Standard, Volume XLV, Issue 121, 24 April 1925, Page 10
Word Count
161VALUABLE PROPERTY Manawatu Standard, Volume XLV, Issue 121, 24 April 1925, Page 10
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