CO129-217 - Governor Sir Bowen Administrator Marsh - 1884 [7-10] — Page 122

10.

Government, have been subsequently dispored

of

to individicals at

greatly

increased

that

a great

values notwithstanding

portion of the lease - terew had in each

cave

((

//

119

growth and spreced of European houses in the healthier suburbs of the City,

are-

of opinion that

ATL

public gravude

alove, it would be desirable that the m

Government should substitute the on

7.

exxpired.

In view

of the

the actical covenants

betiveen the Government and the Garden

we

lease holders, we

present temporary

Garden leases

by

permanent Rural Building leaseholds

are unable to find that

of Seventy five years.

$8.

the latter have established

any

dai

whatsoever for the conversion of the

of their

temporary holdings into permanent building kaaseholds by the mere

& fact of : their having erected houses and otherwise improved their low, but on the other hand, looking to the overcrowded condition

of Victoria; to the nocarcity of European dwellings on this side of the harbour, and to the policy of encouraging the

growth

After

due consideration

actual

of

vation o

Leasehold estate values in the Colony

we have couse to the condusion that

-seventy five year building leaseholds at Kowloon may be fairly

aud

equitably assessed · for premium, at the rate of half

A-

ceut

4 per square foot in addition to the nominal excus paid

to Government by way of premian

at the original auction : oceles

of the properties