CO129-403 - Governor Sir May Acting Governor Claud Severn - 1913 [8-10] — Page 237

NS CONFIDENTIAL.

Sir,

C.O.

32191

. 15 SEP 13

GOVERNMENT HOUSE.

HONGKONG, 19th. August, 1913.

238

I have the honour to request your authority to

sell the site in Bridges Street between Ladder Street and Tank Lane shown on the attached plan to the Young Men's Christian Association without auction, for the purpose of erecting a new building for the Chinese Branch of the Association, upon the following terms:

(a). Term of lease 75 years commencing from the date of

a letter from the Director of Public Works informing applicants that the site is at their disposal. The lease to be renewable for a further term of 75 years at a re-assessed Crown Rent.

(b). Premium at the rate of $2.50 per square foot (viz.:- $33,630) to be paid into the Colonial Treasury with- -in one month of the date mentioned in (a). (c). Crown Rent at the rate of $700 per acre per annun (viz.:- 216 per ammum) to commence from date mentioned in (a).

(d). A sum of not less than $75,000 (Gold) to be spent on

buildings, equipment and other expenses in connection with the initial cost of the buildings. (It is believed that the building will cost in the neighbour -hood of $135,000 and the Young Men's Christian Association are prepared to spend that amount).

THE RIGHT HONOURABLE

LEWIS HARCOURT, M.P.,

80..

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