PAHIATUA LEASES.
Th© Wellington City Council has an endowment in the Jpahi-atua district that is occupied on fourteen-year leases', with a right of renewal on a revaluation, less improvements. The lesseeg are not satisfied with the terms of their leajse, ana are asking the right to acquire the freehold. The Wellington City Council is now considering the question. It ii> urged by the Evening Post that the Council has no right to -part with the fee simple. But, if the matter is viewed from a purely business standpoint, people mil want to know the reason why. Land in the neighbourhood of Pahiatua has reached a fairly high value, and many are of opinion that it may go back, rather than increase in prioe. If the City Council were to *e!l &t the present .valuer, it srould receive a vary gpod jprioe for the land. The rental is at;present 4 pier cent, on the capital Could not the 'GHqr i oil iirest ,ii» morijey That is the sole questionfor -consideration. from a city paint of view;. So far as the settier s snd the Dominion are concerned, there can be no question that the land would b® more profitably utilised as freehold than under the existing tenure.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WAG19130701.2.20
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Age, Volume XXV, Issue 10713, 1 July 1913, Page 4
Word count
Tapeke kupu
206PAHIATUA LEASES. Wairarapa Age, Volume XXV, Issue 10713, 1 July 1913, Page 4
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Wairarapa Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in