building
lots within this area both
in respect of promiem and Crown Rent.
3
The attached tobular state-
ment give details as to area, cost of revuemption and estimated proposed expenditure and also proposed premium and Crown Pent in respect of each
block.
4.
fissing
the
praniums
and Crown sent I have assumed. that the term of leave will be that usually granted in respect of other properties in the City of Victoria, viz :- 999 years.
The Crown peut I have
fixed at the uniform rate of about 6/10 cents per square foot which makes the maximums pent 1 payable in respect
- building lot #62 and
of any
one buil
the minimum $32 per annums.
The total crown pants will
amount to $12,590 per annums or
6
11/371 $11,371
597
the
more than that paid by
loke lessees.
7.
The proposed premium io
of necessity
more or less a matter
of speculation and this is especially
the cave now, or
tary
overing to recent sans-
measures that have been in
troduced into the Legislature of this Colony.
P
Apparently
euch
will either - depreciate the value houve property
of
or increase the rents
of such property. The latter seans prosuble owing
the more
to the high
price at which house property
- during late
9.
hav
years changed hands. It would therefore be and. visable to hold over the sale of this property for a reasonable period unte: matters have more or less adjusted. themselves and purchasers know from practical experience the result of ench legislation.
111371
10.
F