CO129-404 - Acting Governor Claud Severn - 1913 [10-12] — Page 221

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Colonial Secretary's Office,

Hongkong, 6th. August, 1913.

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In reply to your letter No. 1110 of the 8th. July,

I am directed to inform you that, in addition to the site already proposed in the Colonial Secretary's letter of 21st. June, 1912, and previous correspondence (Site A), there is another suitable site further North on Canton Road shown in red on the enclosed

plan.

2.

The area of this site is somewhat less than the minimum specified in your letter under reply, but it might be possible to arrange for the closing of that portion of Canton Road which lies between it and the existing Admiralty property, thus enabling the area to be considerably increased.

3. The terms on which this lot would be sold are the same as those for Site A, namely, one dollar a square foot premium and $500 an acre Crown Rent and the value of the lot exclusive of

the road would therefore be:-

Premium 94,564 sq.ft. @ X1 .

Crown Rent at 8500 an acre z 81,085 capitalized at 4% or

894,664

Total value.......

27,125

.8121,789.

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25 years' purchase z

A

4. ▲ condition of the sale would also be the small improvement in the alignment of Canton Road snow on the enclosed

green plan, the Admiralty giving up the area coloured and taking in exchange the area coloured blue. If the Admiralty do not require the area coloured blue, however, the area shown in green could simply be exchanged for an equivalent area of the lot margined in

red.

5. If Canton Road were to be closed in order to increase the area of the lot, it would be necessary to remove certain gas and water mains &c., the cost of which work should be