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feet and is covered with old and poor buildings. The term of
the Crow Lease is for 999 years from the 25th. June, 1843, subject to a Crown Rent of $175.80 per annum. The buildings
prior to the recent fire were let at rentals bringing in $1,577 per mensen. The burnt out portions are being re- -instated. The rents are considered low and have not been raised for the last 15 years. The property belongs to the estate of the late Mr. E. R. Belilios, C.M.G., who would not let to Chinese the upper floors which give upon Battery Fath one of the principal thoroughfares for pedestrians in the City. Otherwise much higher rentals might have been commanded.
The property is valued with the buildings thereon at $250,000 by the Director of Public Works. The agents for the property are willing to recommend the Trustees in London of the estate to sell to the Government for $275,000. Probably considerably more would be realised by sale in the open market.
6.
The portion of the site edged with blue on the plan comprises about 8,901 square feet and would form an ideal site for a Young Men's Christian Association build- -ing. In fact no better site old he found in the City. It abuts on the Military parade ground and faces the Hongkong Cricket Club ground and fronts on Queen's Road. The site is, therefore, onthe level, easily accessible, salubrious and
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well adapted for residential purposes part of the scheme of a Young Men's Christian Association Institution being to have a dozen or so of bedrooms in the building.
The Directors of the European Young Men's Christion Association are most anxious that the Government would favourably consider an exchange of the site granted to them at Kowloon for the site which is the subject of this Despatch, and I strongly recommend and the Unofficial Members of the Legislative Council support my recommendations
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that
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