CITY MARKETS

Sun (Auckland), Volume III, Issue 839, 6 December 1929, Page 10

CITY MARKETS

OBJECTIONS TO 21 YEARS’ RENEWALS

COUNCIL CONSIDERS LEASES Objections to granting lessees of the City Markets renewals of their leases of 21 years after the expiration of -the present terms, which have still 10 years to run, were raised by members of the City Council last evening. The issue was raised by a recommendation of the Markets and Stores Committee lo the effect that the lessees of No. 2 building should be offered renewal of their leases on expiry in April, 1939, for a further term of 21 years, the rent for the first 10 years of the new term to be fixed at 25 per cent, increase on the rentals now being paid, and for the balance of the term to be fixed by valuation based on the capital value of land and buildings. “There is room for doubt whether the City Markets should remain in private hands for another 31 years,” declared Cr. T. Bloodworth, in objecting to the proposal. He contended that future councils should not be tied down by the lengthy leases proposed. Cr. E. J. Phelan claimed the council was not now in a position to determine the value of leases 10 years hence, and contended that two years before expiration of the present terms was ample to consider renewal terms. The Mayor stated that he feared that unless the question was settled some of the firms would be moving to other sites.

The proposal was referred to the committee for reconsideration.