CO129-403 - Governor Sir May Acting Governor Claud Severn - 1913 [8-10] — Page 96

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University reservation. The total area is approximately 320,820 square feet and the Director of Public Works estimates its value as follows:-

Area A.

Premium:-

90,080 square feet at 25 cents per square foot...822,520

Crown Rent on 90,080 square feet at £300 per

acre = $620 per annum capitalized

at 7% or 14 years' purchase...

8,858

Total value...

.831,378.

Area B (including C and D).

Premium:-

230,740 square feet at 10 cents per square

foot....

Crow Rent on 230,740 square feet at $300 per

acre $1,590 per annum capitalized

at 7% or 14 years' purchase...

Total value.

.X23.074

22,714

.$45,788.

The total value of the areas marked A and B is therefore estimated to be 877,166. The sum is a considerable one but I trust that you will agree with me that it would be unwise not to reserve as much space as possible for future growth of the University,

I have the honour to be,

Sir,

Your most obedient,

humble servant,

A A

Governor,&c..