CO129-282 - Acting Governor Major Gen Black - 1898 [3-4] — Page 79

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square feet were disposed of this month and brought in a sun of

$53,570.00 being an average of $4.86 per square feet, but while

this good price warrants a more hopeful view of the value of the

land still available for sale, than was taken by Mr. Cooper two

years ago, the same price cannot be expected for the remaining lots.

After full consideration I am inclined to estimate the selling value

of the rest of the building area at an average of $2.50 per square

foot.

There is approximately 174,000 square feet still to dispose

of. I therefore estimate the land still to be sold at Taipingshan

and its value as follows :-

174,000 square feet at $2.50. $435,000.

3.

"", The demand for land, and the prices paid for

sites seem to be increasing. The anticipated revenue from this

source in 1898, as shewn in the Estimates for the year is $255,000.

Assuming that $200,000 of this will come from land sold in the

Taipingshan area, the balance of $55,000 represents the estimated

revenue from the sale of land elsewhere, but exclusive of sites on

ام به برند به وی بود در مقابر

the Praya. The sales of land exclusive of Taipingshan building sites

io 1897 will bring in about $160.000, but include some large special @

lots in Kowloon. It is therefore perhaps advisable not to count on

a greater revenue than $100,000 a year from land exclusive of Tai-

-pingshan for some years to come. With regard to Government land

available for sale on the new Praya you have already addressed the

Secretary of State, and I find the valuation amounts to $510.000.