CO129-283 - Acting Governor Major Gen Black - 1898 [5-6] — Page 452

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at all times of the year, while its distance of under a mile

from the ferry pier brings it within 20 minutes by rickshaw

and ferry boat of Victoria, and so close enough for business

men.

1

Looking now to sales in the vicinity I find

the nearest lot to the North Kowloon Inland Lot 652 adjoining

the old Slaughter House, sold in 1893 for 5 cents a foot, but

with the unusually heavy Crown Rent of $500 an acre.

Kowloon Inland Lot 571 adjoining the Police

range sold in 1888 in sections at 124,17 and 19 cents a foot.

A portion of Kowloon Inland Lot 671, adjoining

Kimberley Road changed hands in 1889 at 27 cents a foot. (In

this year land was rated at a very high value).

Taking all into consideration I think Gun Club

Hill may fairly be put down as worth now 8 cents a foot for

sale in one block.

This would make the price to be paid by the

Military Authorities

312,309 sq. ft. at 8 cents..

$27,984.72

Crown Rent at $300 an acre on

7 acres capitalized at 25 years. $52,500.00

Total.... .$80,484.72

(sd.) R.D.ORMSBY.

Director of Public Works.

31.5.98.

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