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lease should commence from the 16th. May, 1904, (date of
Bale of Kowloon Marine Lot 83). As the construction of
the Kowloon-Canton Railway had then been begun, the premium
in this case was fixed at $1.25 per square foot, the Crown
rent being $400 per acre, as in the case of Kowloon Marine
Lot 83. The area of the lot is 27,073 square feet, the
Crown rent amounting to $248. This lot has also been
reclaimed since the date of sale.
3.
Mr. Macdonald has informed me verbally
that his firm are prepared to dispose of the entire area
of both lots for $2 per square foot,
which I regard as A
very reasonable price. On this basis, the value of the
lots would be:-
Kowloon Marine Lot 83,
Kowloon Inland Lot 1178,
Square feet.
Square Feet.
139,800
27,073
166,873 $2,00 = $333,746.
(Sa.) W. Chatham,
Director of Public Works,
29. 4. 18.
9839