CO129-267 - Governor Sir Robinson - 1895 [4-6] — Page 601

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