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14. The recommendation of the entire abatement of that portion of Rent at present applicable to the ground IDKB, which was unavailable for building, offered for sale by Government.
2ndly. "The placing of those portions of the original Lot comprised within AIFB and CFGH on the terms of a Town lot", and with reference to the tenure of land in general bought it to the adoption of an upset price, which question also bears particularly upon my Lease.
Whether the upset prices originally based on correct data and a fair principle.
All the original purchasers of land bought a Lot, without particular reference to the number of square feet therein. And their buildings would doubtless be influenced as much by the formation and capability for building thereon, the accommodation they had in view, as by the location and the then present value.
They had every advantage, the lots being of convenient shape, and in situations where circumstances might create a competition that would not occur elsewhere. In regulating an upset price per square foot, based upon the early purchases, some consideration, it appears to me, ought therefore to have been had for localities, and the formation of lots, since, whilst a lot, as originally marked out, might be well worth the price obtained by competition, from the position and capability of the available building ground or square feet, being materially increased, the one at a distance might be dear in comparison, if bought at the same rate per square foot, from it not only being incapable of increase in available building ground, but being encumbered with angles which increased the number of square feet chargeable with the upset price.
As a proof that the upset price was heavy per square foot for my lot, I may instance the circumstance of all my neighbours in Spring Gardens paying much under the upset price at which my lot was originally put up per square foot. Many of the lots as bought, and according to which Rent is paid, I apprehend have been materially increased by reclamation from the harbour. Thus, though these