BROADWAY LEASES.

Stratford Evening Post, Volume XXXII, Issue 67, 14 March 1912, Page 5

BROADWAY LEASES.

; i.Kun iAHGTIHN 'ON, BEHALF ,OF.-THE ••'• ' BOItdFGII*COUA ; OIL. " IMIOOEEDINGS. , | Vj; ‘, ■ \ l a* . ■■ ” ''C'onsiderahle interest lias been taken locally in the sale by auction of several Borough leases, which was conducted by Mr T. Lamason yesterdayafternoon. Of the four lots ojfered, lots h. fUud 2, were premises occupied by Mr A. Spence, draper, and the upset rental for both was £364. No loffcss;were made, the price being considered too high by several gentlemen who contemplated making a hid for the leases. Mr J. F. Watson, jeweller, secured the lease of the premises bo row occupies, at the upset rental of £B4 10s. There was no competition. Mrs Brown was not a bidder for the lease of the shop she now occupies, carrying on a fruit, confectionery and dining-room business. It j passed into the hands of Mr F. Pivae, restaurant keeper, at £143 a year. j Negotiations are in progress with regard to the sale of Mr Spence’s leases, hut, we understand, Mr Spence is not among the intending purchasers. As yet nothing definite is ascertainable, but it is practically certain that a buyer will he got at the price. The point lias arisen as to whether the business to he conducted by one of the lessees does not come within the meaning of clause 4 of the lease, which provides that it he a covenant by him that he “will not carry on offensive trades” within the meaning implied by those words in the seventh schedule of the Land Transfer Act of 1908. The, clause in the schedule referred to reads! as follows: “The words ‘will not carry on offen-i sivo trades’ imply that no noxious, noisome, or offensive art, trade, business, or occupation or calling shall at any time during the said term he used, exercised, carried on, permitted, or suffered hy the covenantor in or upon the heriditameuts and premises mentioned in the instrument, and that no act, matter, or thing whatsoever shall at any time during the said term be done in or upon the said hereditaments and premises, or any part thereof, which shall or may he or grow to the annoyance, nuisance, grievance, damage, or disturbance of the occupiers or owners of the adjoining lands and hereditaments.” It is not anticipated, however, that anything will lie'done in this connection, beyond tbs Borough Council making it its duty to see that nothing in the nature of a nuisance is created. Evidence of the progress of Stratford ' is given in rather a striking manner by the sale yesterday. Twenty-one j years ago Mr Spence’s leases were j sold at an annual rental of £sl. To-j day a purchaser will probably be found l at £304, an increase of over six hundred per cent. Mrs Brown’s and Air Watson’s shops were lot in one lease, the rental for which was £47 10s. They wont under the hammer yesterday at £227 10s. The increase in the Borough revenue will be £l93—more than enough to pay off within two years the cost of the new road roller.